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Diamondback Energy (FANG) Suffers a Larger Drop Than the General Market: Key Insights
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Diamondback Energy (FANG - Free Report) ended the recent trading session at $198.65, demonstrating a -1.58% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.4%. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.73%.
Shares of the energy exploration and production company witnessed a gain of 15.95% over the previous month, beating the performance of the Oils-Energy sector with its gain of 10.64%, and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company is predicted to post an EPS of $2.78, indicating a 38.77% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.46 billion, indicating a 14.48% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.16 per share and a revenue of $14.48 billion, signifying shifts of -1.57% and -3.66%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 41.1% rise in the Zacks Consensus EPS estimate. Right now, Diamondback Energy possesses a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 15.34. This denotes a premium relative to the industry average Forward P/E of 14.6.
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 80, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Suffers a Larger Drop Than the General Market: Key Insights
Diamondback Energy (FANG - Free Report) ended the recent trading session at $198.65, demonstrating a -1.58% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.4%. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.73%.
Shares of the energy exploration and production company witnessed a gain of 15.95% over the previous month, beating the performance of the Oils-Energy sector with its gain of 10.64%, and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company is predicted to post an EPS of $2.78, indicating a 38.77% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.46 billion, indicating a 14.48% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $13.16 per share and a revenue of $14.48 billion, signifying shifts of -1.57% and -3.66%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 41.1% rise in the Zacks Consensus EPS estimate. Right now, Diamondback Energy possesses a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 15.34. This denotes a premium relative to the industry average Forward P/E of 14.6.
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 80, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.