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Diamondback Energy (FANG) Rises Higher Than Market: Key Facts
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Diamondback Energy (FANG - Free Report) closed at $177.61 in the latest trading session, marking a +1.62% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.
The energy exploration and production company's stock has climbed by 7% in the past month, exceeding the Oils-Energy sector's loss of 9.81% and the S&P 500's loss of 2.2%.
Analysts and investors alike will be keeping a close eye on the performance of Diamondback Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on February 24, 2025. On that day, Diamondback Energy is projected to report earnings of $3.37 per share, which would represent a year-over-year decline of 28.9%. Simultaneously, our latest consensus estimate expects the revenue to be $3.4 billion, showing a 52.66% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 4.74% lower within the past month. Diamondback Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 11.3. This denotes a premium relative to the industry's average Forward P/E of 9.93.
Investors should also note that FANG has a PEG ratio of 1.35 right now. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 1.22.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Diamondback Energy (FANG) Rises Higher Than Market: Key Facts
Diamondback Energy (FANG - Free Report) closed at $177.61 in the latest trading session, marking a +1.62% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.
The energy exploration and production company's stock has climbed by 7% in the past month, exceeding the Oils-Energy sector's loss of 9.81% and the S&P 500's loss of 2.2%.
Analysts and investors alike will be keeping a close eye on the performance of Diamondback Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on February 24, 2025. On that day, Diamondback Energy is projected to report earnings of $3.37 per share, which would represent a year-over-year decline of 28.9%. Simultaneously, our latest consensus estimate expects the revenue to be $3.4 billion, showing a 52.66% escalation compared to the year-ago quarter.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. The Zacks Consensus EPS estimate has moved 4.74% lower within the past month. Diamondback Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 11.3. This denotes a premium relative to the industry's average Forward P/E of 9.93.
Investors should also note that FANG has a PEG ratio of 1.35 right now. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 1.22.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.