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Unlocking Q2 Potential of Diamondback (FANG): Exploring Wall Street Estimates for Key Metrics
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In its upcoming report, Diamondback Energy (FANG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.63 per share, reflecting a decline of 41.8% compared to the same period last year. Revenues are forecasted to be $3.37 billion, representing a year-over-year increase of 35.8%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 6.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Diamondback metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Revenues- Oil, natural gas and natural gas liquid' should arrive at $3.21 billion. The estimate indicates a change of +47.8% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Oil sales' at $2.73 billion. The estimate suggests a change of +36.7% year over year.
Analysts forecast 'Revenues- Natural gas liquid sales' to reach $320.12 million. The estimate suggests a change of +87.2% year over year.
Analysts predict that the 'Revenues- Natural gas sales' will reach $115.33 million. The estimate indicates a year-over-year change of +2206.6%.
Analysts expect 'Average daily production / Daily combined volumes' to come in at 890056 barrels of oil equivalent per day. Compared to the current estimate, the company reported 474670 barrels of oil equivalent per day in the same quarter of the previous year.
According to the collective judgment of analysts, 'Total Production Volume (Combined volumes)' should come in at 80985 thousands of barrels of oil equivalent. Compared to the current estimate, the company reported 43195 thousands of barrels of oil equivalent in the same quarter of the previous year.
Analysts' assessment points toward 'Average Prices - Natural gas liquids, hedged' reaching 18 dollars per barrel. The estimate is in contrast to the year-ago figure of 18 dollars per barrel.
It is projected by analysts that the 'Total Production Volume - Oil' will reach 44921 thousands of barrels of oil. The estimate compares to the year-ago value of 25129 thousands of barrels of oil.
The consensus among analysts is that 'Average Prices - Oil -hedged' will reach 62 dollars per barrel. Compared to the current estimate, the company reported 79 dollars per barrel in the same quarter of the previous year.
The consensus estimate for 'Total Production Volume - Natural gas liquids' stands at 18364 thousands of barrels of oil. Compared to the current estimate, the company reported 9514 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Average Prices - Natural gas liquids' of 18 dollars per barrel. Compared to the current estimate, the company reported 18 dollars per barrel in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Average Prices - Oil' will likely reach 63 dollars per barrel. Compared to the current estimate, the company reported 80 dollars per barrel in the same quarter of the previous year.
Shares of Diamondback have demonstrated returns of +6.4% over the past month compared to the Zacks S&P 500 composite's +2.7% change. With a Zacks Rank #3 (Hold), FANG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Unlocking Q2 Potential of Diamondback (FANG): Exploring Wall Street Estimates for Key Metrics
In its upcoming report, Diamondback Energy (FANG - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $2.63 per share, reflecting a decline of 41.8% compared to the same period last year. Revenues are forecasted to be $3.37 billion, representing a year-over-year increase of 35.8%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 6.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Diamondback metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Revenues- Oil, natural gas and natural gas liquid' should arrive at $3.21 billion. The estimate indicates a change of +47.8% from the prior-year quarter.
The average prediction of analysts places 'Revenues- Oil sales' at $2.73 billion. The estimate suggests a change of +36.7% year over year.
Analysts forecast 'Revenues- Natural gas liquid sales' to reach $320.12 million. The estimate suggests a change of +87.2% year over year.
Analysts predict that the 'Revenues- Natural gas sales' will reach $115.33 million. The estimate indicates a year-over-year change of +2206.6%.
Analysts expect 'Average daily production / Daily combined volumes' to come in at 890056 barrels of oil equivalent per day. Compared to the current estimate, the company reported 474670 barrels of oil equivalent per day in the same quarter of the previous year.
According to the collective judgment of analysts, 'Total Production Volume (Combined volumes)' should come in at 80985 thousands of barrels of oil equivalent. Compared to the current estimate, the company reported 43195 thousands of barrels of oil equivalent in the same quarter of the previous year.
Analysts' assessment points toward 'Average Prices - Natural gas liquids, hedged' reaching 18 dollars per barrel. The estimate is in contrast to the year-ago figure of 18 dollars per barrel.
It is projected by analysts that the 'Total Production Volume - Oil' will reach 44921 thousands of barrels of oil. The estimate compares to the year-ago value of 25129 thousands of barrels of oil.
The consensus among analysts is that 'Average Prices - Oil -hedged' will reach 62 dollars per barrel. Compared to the current estimate, the company reported 79 dollars per barrel in the same quarter of the previous year.
The consensus estimate for 'Total Production Volume - Natural gas liquids' stands at 18364 thousands of barrels of oil. Compared to the current estimate, the company reported 9514 thousands of barrels of oil in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Average Prices - Natural gas liquids' of 18 dollars per barrel. Compared to the current estimate, the company reported 18 dollars per barrel in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Average Prices - Oil' will likely reach 63 dollars per barrel. Compared to the current estimate, the company reported 80 dollars per barrel in the same quarter of the previous year.
View all Key Company Metrics for Diamondback here>>>Shares of Diamondback have demonstrated returns of +6.4% over the past month compared to the Zacks S&P 500 composite's +2.7% change. With a Zacks Rank #3 (Hold), FANG is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .