We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Diamondback (FANG) Stock Jumps 4.2%: Will It Continue to Soar?
Read MoreHide Full Article
Diamondback Energy (FANG - Free Report) shares rallied 4.2% in the last trading session to close at $151.23. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% loss over the past four weeks.
Diamondback stock closed sharply higher on Friday as investors continued to speculate on the next acquisition target in the Permian basin following ExxonMobil’s potential takeover of Pioneer Natural Resources. As it is, the upstream energy company has recently benefited from oil’s ascent on the back of Saudi Arabia and Russia's supply cuts. Strong U.S. job growth boosted demand prospects further, with increased Chinese travel activity and reduced U.S. oil rigs adding support.
This energy exploration and production company is expected to post quarterly earnings of $4.68 per share in its upcoming report, which represents a year-over-year change of -27.8%. Revenues are expected to be $2.07 billion, down 14.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Diamondback, the consensus EPS estimate for the quarter has been revised 7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FANG going forward to see if this recent jump can turn into more strength down the road.
Diamondback belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Cheniere Energy (LNG - Free Report) , closed the last trading session 1.7% higher at $163.35. Over the past month, LNG has returned 0.5%.
For Cheniere Energy, the consensus EPS estimate for the upcoming report has changed -1% over the past month to $2.50. This represents a change of -68% from what the company reported a year ago. Cheniere Energy currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Diamondback (FANG) Stock Jumps 4.2%: Will It Continue to Soar?
Diamondback Energy (FANG - Free Report) shares rallied 4.2% in the last trading session to close at $151.23. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% loss over the past four weeks.
Diamondback stock closed sharply higher on Friday as investors continued to speculate on the next acquisition target in the Permian basin following ExxonMobil’s potential takeover of Pioneer Natural Resources. As it is, the upstream energy company has recently benefited from oil’s ascent on the back of Saudi Arabia and Russia's supply cuts. Strong U.S. job growth boosted demand prospects further, with increased Chinese travel activity and reduced U.S. oil rigs adding support.
This energy exploration and production company is expected to post quarterly earnings of $4.68 per share in its upcoming report, which represents a year-over-year change of -27.8%. Revenues are expected to be $2.07 billion, down 14.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Diamondback, the consensus EPS estimate for the quarter has been revised 7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FANG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Diamondback belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. Another stock from the same industry, Cheniere Energy (LNG - Free Report) , closed the last trading session 1.7% higher at $163.35. Over the past month, LNG has returned 0.5%.
For Cheniere Energy, the consensus EPS estimate for the upcoming report has changed -1% over the past month to $2.50. This represents a change of -68% from what the company reported a year ago. Cheniere Energy currently has a Zacks Rank of #3 (Hold).