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Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $211.53, marking a +2.82% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.45%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.78%.
The energy exploration and production company's shares have seen a decrease of 0.28% over the last month, not keeping up with the Oils-Energy sector's gain of 2% and outstripping the S&P 500's loss of 1.99%.
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 $4.44, indicating a 44.16% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.15 billion, up 5.85% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $19.94 per share and a revenue of $18.18 billion, signifying shifts of +49.14% and +21.01%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Diamondback Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.26% upward. Diamondback Energy presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 10.32. This represents a premium compared to its industry average Forward P/E of 9.99.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 39% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Diamondback Energy (FANG) Gains As Market Dips: What You Should Know
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $211.53, marking a +2.82% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.45%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.78%.
The energy exploration and production company's shares have seen a decrease of 0.28% over the last month, not keeping up with the Oils-Energy sector's gain of 2% and outstripping the S&P 500's loss of 1.99%.
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 $4.44, indicating a 44.16% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.15 billion, up 5.85% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $19.94 per share and a revenue of $18.18 billion, signifying shifts of +49.14% and +21.01%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Diamondback Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.26% upward. Diamondback Energy presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 10.32. This represents a premium compared to its industry average Forward P/E of 9.99.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 39% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.