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Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
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The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $194.70, denoting a +0.15% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
Shares of the energy exploration and production company witnessed a gain of 10% over the previous month, beating the performance of the Oils-Energy sector with its gain of 4.9% and the S&P 500's gain of 5.34%.
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 $4.23 per share. This would mark year-over-year growth of 3.17%. At the same time, our most recent consensus estimate is projecting a revenue of $2.1 billion, reflecting a 9.2% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.75 per share and revenue of $8.74 billion. These totals would mark changes of -1.44% and +3.92%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.2% lower within the past month. Diamondback Energy presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Diamondback Energy is presently trading at a Forward P/E ratio of 10.95. This denotes no noticeable deviation relative to the industry's average Forward P/E of 10.95.
We can additionally observe that FANG currently boasts a PEG ratio of 0.5. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.73.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 217, positioning it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Gains As Market Dips: What You Should Know
The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $194.70, denoting a +0.15% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
Shares of the energy exploration and production company witnessed a gain of 10% over the previous month, beating the performance of the Oils-Energy sector with its gain of 4.9% and the S&P 500's gain of 5.34%.
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 $4.23 per share. This would mark year-over-year growth of 3.17%. At the same time, our most recent consensus estimate is projecting a revenue of $2.1 billion, reflecting a 9.2% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $17.75 per share and revenue of $8.74 billion. These totals would mark changes of -1.44% and +3.92%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Diamondback Energy. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.2% lower within the past month. Diamondback Energy presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Diamondback Energy is presently trading at a Forward P/E ratio of 10.95. This denotes no noticeable deviation relative to the industry's average Forward P/E of 10.95.
We can additionally observe that FANG currently boasts a PEG ratio of 0.5. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.73.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 217, positioning it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.