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Diamondback Energy (FANG) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $155.76, denoting a -0.12% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.41% for the day. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 2.2%.
Shares of the energy exploration and production company have appreciated by 4.85% over the course of the past month, outperforming the Oils-Energy sector's gain of 3.47% and the S&P 500's gain of 2.9%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. In that report, analysts expect Diamondback Energy to post earnings of $5.39 per share. This would mark year-over-year growth of 1.89%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.27 billion, indicating a 11.74% increase compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 2.91% lower. Diamondback Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Diamondback Energy is presently being traded at a Forward P/E ratio of 7.53. This valuation marks a premium compared to its industry's average Forward P/E of 7.11.
Also, we should mention that FANG has a PEG ratio of 0.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.41.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% of all 250+ industries.
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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.
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Diamondback Energy (FANG) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Diamondback Energy (FANG - Free Report) ending at $155.76, denoting a -0.12% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 1.41% for the day. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 2.2%.
Shares of the energy exploration and production company have appreciated by 4.85% over the course of the past month, outperforming the Oils-Energy sector's gain of 3.47% and the S&P 500's gain of 2.9%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. In that report, analysts expect Diamondback Energy to post earnings of $5.39 per share. This would mark year-over-year growth of 1.89%. Meanwhile, the latest consensus estimate predicts the revenue to be $2.27 billion, indicating a 11.74% increase compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Diamondback Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 2.91% lower. Diamondback Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Diamondback Energy is presently being traded at a Forward P/E ratio of 7.53. This valuation marks a premium compared to its industry's average Forward P/E of 7.11.
Also, we should mention that FANG has a PEG ratio of 0.34. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Exploration and Production - United States industry held an average PEG ratio of 0.41.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 5% of all 250+ industries.
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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.