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Diamondback Energy (FANG) Stock Drops Despite Market Gains: Important Facts to Note
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Diamondback Energy (FANG - Free Report) closed at $189.27 in the latest trading session, marking a -1.64% move from the prior day. This move lagged the S&P 500's daily gain of 1.49%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 2.26%.
Prior to today's trading, shares of the energy exploration and production company had lost 8.68% lagged the Oils-Energy sector's gain of 0.51% and the S&P 500's gain of 0.1%.
The upcoming earnings release of Diamondback Energy will be of great interest to investors. It is anticipated that the company will report an EPS of $4.48, marking a 45.45% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.18 billion, showing a 6.46% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $20.33 per share and a revenue of $18.55 billion, representing changes of +52.06% and +23.45%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, there's been a 0.97% rise in the Zacks Consensus EPS estimate. Right now, Diamondback Energy possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is presently being traded at a Forward P/E ratio of 9.46. This represents a discount compared to its industry average Forward P/E of 9.47.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 104, placing it within the top 43% of over 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.
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 Drops Despite Market Gains: Important Facts to Note
Diamondback Energy (FANG - Free Report) closed at $189.27 in the latest trading session, marking a -1.64% move from the prior day. This move lagged the S&P 500's daily gain of 1.49%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 2.26%.
Prior to today's trading, shares of the energy exploration and production company had lost 8.68% lagged the Oils-Energy sector's gain of 0.51% and the S&P 500's gain of 0.1%.
The upcoming earnings release of Diamondback Energy will be of great interest to investors. It is anticipated that the company will report an EPS of $4.48, marking a 45.45% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.18 billion, showing a 6.46% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $20.33 per share and a revenue of $18.55 billion, representing changes of +52.06% and +23.45%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, there's been a 0.97% rise in the Zacks Consensus EPS estimate. Right now, Diamondback Energy possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is presently being traded at a Forward P/E ratio of 9.46. This represents a discount compared to its industry average Forward P/E of 9.47.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 104, placing it within the top 43% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.