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Diamondback Energy (FANG) Increases Despite Market Slip: Here's What You Need to Know
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The most recent trading session ended with Diamondback Energy (FANG - Free Report) standing at $156.93, reflecting a +1.34% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq lost 0.76%.
Shares of the energy exploration and production company witnessed a loss of 0.14% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.02% and underperforming the S&P 500's gain of 3.36%.
The upcoming earnings release of Diamondback Energy will be of great interest to investors. The company's earnings report is expected on February 20, 2024. In that report, analysts expect Diamondback Energy to post earnings of $4.82 per share. This would mark a year-over-year decline of 8.88%. At the same time, our most recent consensus estimate is projecting a revenue of $2.19 billion, reflecting a 7.64% rise from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.7% decrease. Diamondback Energy is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Diamondback Energy is presently trading at a Forward P/E ratio of 8.38. This signifies a discount in comparison to the average Forward P/E of 8.47 for its industry.
We can additionally observe that FANG currently boasts a PEG ratio of 0.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.66 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 249, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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) Increases Despite Market Slip: Here's What You Need to Know
The most recent trading session ended with Diamondback Energy (FANG - Free Report) standing at $156.93, reflecting a +1.34% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq lost 0.76%.
Shares of the energy exploration and production company witnessed a loss of 0.14% over the previous month, beating the performance of the Oils-Energy sector with its loss of 1.02% and underperforming the S&P 500's gain of 3.36%.
The upcoming earnings release of Diamondback Energy will be of great interest to investors. The company's earnings report is expected on February 20, 2024. In that report, analysts expect Diamondback Energy to post earnings of $4.82 per share. This would mark a year-over-year decline of 8.88%. At the same time, our most recent consensus estimate is projecting a revenue of $2.19 billion, reflecting a 7.64% rise from the equivalent quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.7% decrease. Diamondback Energy is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Diamondback Energy is presently trading at a Forward P/E ratio of 8.38. This signifies a discount in comparison to the average Forward P/E of 8.47 for its industry.
We can additionally observe that FANG currently boasts a PEG ratio of 0.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.66 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 249, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.