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Diamondback Energy (FANG) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $155.95, denoting a +0.08% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.18% for the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The energy exploration and production company's shares have seen an increase of 5.58% over the last month, surpassing the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 2.75%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. In that report, analysts expect Diamondback Energy to post earnings of $5.39 per share. This would mark year-over-year growth of 1.89%. Our most recent consensus estimate is calling for quarterly revenue of $2.28 billion, up 12.32% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Diamondback Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.9% decrease. Diamondback Energy presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 7.48. This represents a premium compared to its industry's average Forward P/E of 7.11.
We can also see that FANG currently has a PEG ratio of 0.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.4.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Diamondback Energy (FANG) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $155.95, denoting a +0.08% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.18% for the day. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.1%.
The energy exploration and production company's shares have seen an increase of 5.58% over the last month, surpassing the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 2.75%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. In that report, analysts expect Diamondback Energy to post earnings of $5.39 per share. This would mark year-over-year growth of 1.89%. Our most recent consensus estimate is calling for quarterly revenue of $2.28 billion, up 12.32% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Diamondback Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.9% decrease. Diamondback Energy presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 7.48. This represents a premium compared to its industry's average Forward P/E of 7.11.
We can also see that FANG currently has a PEG ratio of 0.34. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.4.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.