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Diamondback Energy (FANG) Rises As Market Takes a Dip: Key Facts
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $202.63, marking a +1.49% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.48% for the day. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 0.64%.
Shares of the energy exploration and production company witnessed a loss of 1.02% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 8.39%, and the S&P 500's loss of 0.97%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company is expected to report EPS of $4.66, up 51.3% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.31 billion, reflecting a 9.83% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $20.14 per share and a revenue of $18.42 billion, demonstrating changes of +50.64% and +22.56%, respectively, from the preceding year.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.26% higher. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Diamondback Energy is at present trading with a Forward P/E ratio of 9.91. This expresses a premium compared to the average Forward P/E of 9.74 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Diamondback Energy (FANG) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $202.63, marking a +1.49% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.48% for the day. Meanwhile, the Dow experienced a drop of 0.77%, and the technology-dominated Nasdaq saw a decrease of 0.64%.
Shares of the energy exploration and production company witnessed a loss of 1.02% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 8.39%, and the S&P 500's loss of 0.97%.
Market participants will be closely following the financial results of Diamondback Energy in its upcoming release. The company is expected to report EPS of $4.66, up 51.3% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.31 billion, reflecting a 9.83% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $20.14 per share and a revenue of $18.42 billion, demonstrating changes of +50.64% and +22.56%, respectively, from the preceding year.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.26% higher. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, Diamondback Energy is at present trading with a Forward P/E ratio of 9.91. This expresses a premium compared to the average Forward P/E of 9.74 of its industry.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 103, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.