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Diamondback Energy (FANG) Advances While Market Declines: Some Information for Investors
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The most recent trading session ended with Diamondback Energy (FANG - Free Report) standing at $164.48, reflecting a +0.07% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow saw a downswing of 0.28%, while the tech-heavy Nasdaq depreciated by 1.2%.
Shares of the energy exploration and production company witnessed a loss of 3.86% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.11% and the S&P 500's gain of 2.71%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. The company is slated to reveal its earnings on February 24, 2025. On that day, Diamondback Energy is projected to report earnings of $3.29 per share, which would represent a year-over-year decline of 30.59%. Simultaneously, our latest consensus estimate expects the revenue to be $3.4 billion, showing a 52.72% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Diamondback Energy. Recent revisions tend to reflect the latest 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.19% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 10.66. Its industry sports an average Forward P/E of 9.01, so one might conclude that Diamondback Energy is trading at a premium comparatively.
Meanwhile, FANG's PEG ratio is currently 1.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 1.33 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 24% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Diamondback Energy (FANG) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with Diamondback Energy (FANG - Free Report) standing at $164.48, reflecting a +0.07% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow saw a downswing of 0.28%, while the tech-heavy Nasdaq depreciated by 1.2%.
Shares of the energy exploration and production company witnessed a loss of 3.86% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.11% and the S&P 500's gain of 2.71%.
The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. The company is slated to reveal its earnings on February 24, 2025. On that day, Diamondback Energy is projected to report earnings of $3.29 per share, which would represent a year-over-year decline of 30.59%. Simultaneously, our latest consensus estimate expects the revenue to be $3.4 billion, showing a 52.72% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Diamondback Energy. Recent revisions tend to reflect the latest 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.19% lower. Diamondback Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 10.66. Its industry sports an average Forward P/E of 9.01, so one might conclude that Diamondback Energy is trading at a premium comparatively.
Meanwhile, FANG's PEG ratio is currently 1.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 1.33 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 24% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.