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Diamondback Energy (FANG) Stock Sinks As Market Gains: Here's Why
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Diamondback Energy (FANG - Free Report) closed the most recent trading day at $189.96, moving -1.13% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.65% for the day. Meanwhile, the Dow experienced a rise of 0.92%, and the technology-dominated Nasdaq saw an increase of 3.07%.
The stock of energy exploration and production company has fallen by 5.62% in the past month, lagging the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 0.48%.
The investment community will be closely monitoring the performance of Diamondback Energy in its forthcoming earnings report. The company is expected to report EPS of $5.73, up 114.61% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $4.8 billion, indicating a 30.5% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.92 per share and revenue of $18.13 billion, indicating changes of +48.99% and +20.68%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.79% increase. As of now, Diamondback Energy holds a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 9.64. This expresses no noticeable deviation compared to the average Forward P/E of 9.64 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 108, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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Diamondback Energy (FANG) Stock Sinks As Market Gains: Here's Why
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $189.96, moving -1.13% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 1.65% for the day. Meanwhile, the Dow experienced a rise of 0.92%, and the technology-dominated Nasdaq saw an increase of 3.07%.
The stock of energy exploration and production company has fallen by 5.62% in the past month, lagging the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 0.48%.
The investment community will be closely monitoring the performance of Diamondback Energy in its forthcoming earnings report. The company is expected to report EPS of $5.73, up 114.61% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $4.8 billion, indicating a 30.5% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $19.92 per share and revenue of $18.13 billion, indicating changes of +48.99% and +20.68%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.79% increase. As of now, Diamondback Energy holds a Zacks Rank of #3 (Hold).
Investors should also note Diamondback Energy's current valuation metrics, including its Forward P/E ratio of 9.64. This expresses no noticeable deviation compared to the average Forward P/E of 9.64 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 108, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.