We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Diamondback Energy (FANG) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $184.38, moving +1.92% from the previous trading session. This change outpaced the S&P 500's 0.03% loss on the day. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.56%.
Coming into today, shares of the energy exploration and production company had gained 7.14% in the past month. In that same time, the Oils-Energy sector lost 10.96%, while the S&P 500 gained 1.39%.
The upcoming earnings release of Diamondback Energy will be of great interest to investors. The company's earnings report is expected on November 4, 2024. The company is predicted to post an EPS of $4.01, indicating a 26.96% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.45 billion, showing a 4.65% escalation compared to the year-ago quarter.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $17.13 per share and revenue of $10.52 billion. These results would represent year-over-year changes of -4.89% and +25%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Diamondback Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 moved 7.48% lower. Right now, Diamondback Energy possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Diamondback Energy is at present trading with a Forward P/E ratio of 10.56. Its industry sports an average Forward P/E of 10.51, so one might conclude that Diamondback Energy is trading at a premium comparatively.
One should further note that FANG currently holds a PEG ratio of 1.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 1.32 based on yesterday's closing prices.
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 238, putting it in the bottom 6% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Diamondback Energy (FANG) Ascends While Market Falls: Some Facts to Note
Diamondback Energy (FANG - Free Report) closed the most recent trading day at $184.38, moving +1.92% from the previous trading session. This change outpaced the S&P 500's 0.03% loss on the day. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.56%.
Coming into today, shares of the energy exploration and production company had gained 7.14% in the past month. In that same time, the Oils-Energy sector lost 10.96%, while the S&P 500 gained 1.39%.
The upcoming earnings release of Diamondback Energy will be of great interest to investors. The company's earnings report is expected on November 4, 2024. The company is predicted to post an EPS of $4.01, indicating a 26.96% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.45 billion, showing a 4.65% escalation compared to the year-ago quarter.
FANG's full-year Zacks Consensus Estimates are calling for earnings of $17.13 per share and revenue of $10.52 billion. These results would represent year-over-year changes of -4.89% and +25%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Diamondback Energy. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 moved 7.48% lower. Right now, Diamondback Energy possesses a Zacks Rank of #4 (Sell).
In the context of valuation, Diamondback Energy is at present trading with a Forward P/E ratio of 10.56. Its industry sports an average Forward P/E of 10.51, so one might conclude that Diamondback Energy is trading at a premium comparatively.
One should further note that FANG currently holds a PEG ratio of 1.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 1.32 based on yesterday's closing prices.
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 238, putting it in the bottom 6% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.