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Diamondback Energy (FANG) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $155.33, marking a -1.75% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.04%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.03%.
The energy exploration and production company's stock has climbed by 2.8% in the past month, exceeding the Oils-Energy sector's gain of 2.41% and lagging the S&P 500's gain of 5.28%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. It is anticipated that the company will report an EPS of $5.38, marking a 1.7% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.28 billion, indicating a 12.26% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.84 per share and revenue of $8.36 billion, indicating changes of -21.57% and -13.32%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates 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 company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. Right now, Diamondback Energy possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 8.39. This denotes a discount relative to the industry's average Forward P/E of 8.9.
Investors should also note that FANG has a PEG ratio of 0.38 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.44.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 203, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Diamondback Energy (FANG) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Diamondback Energy (FANG - Free Report) closed at $155.33, marking a -1.75% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.04%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.03%.
The energy exploration and production company's stock has climbed by 2.8% in the past month, exceeding the Oils-Energy sector's gain of 2.41% and lagging the S&P 500's gain of 5.28%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. It is anticipated that the company will report an EPS of $5.38, marking a 1.7% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.28 billion, indicating a 12.26% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $18.84 per share and revenue of $8.36 billion, indicating changes of -21.57% and -13.32%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates 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 company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. Right now, Diamondback Energy possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Diamondback Energy is holding a Forward P/E ratio of 8.39. This denotes a discount relative to the industry's average Forward P/E of 8.9.
Investors should also note that FANG has a PEG ratio of 0.38 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 0.44.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 203, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.