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Diamondback Energy (FANG) closed at $89.42 in the latest trading session, marking a +1.39% move from the prior day. This change outpaced the S&P 500's 1.13% gain on the day.
Prior to today's trading, shares of the energy exploration and production company had gained 1.38% over the past month. This has outpaced the Oils-Energy sector's loss of 5.86% and lagged the S&P 500's gain of 2.39% in that time.
Investors will be hoping for strength from FANG as it approaches its next earnings release, which is expected to be August 2, 2021. In that report, analysts expect FANG to post earnings of $2.19 per share. This would mark year-over-year growth of 1360%. Our most recent consensus estimate is calling for quarterly revenue of $1.32 billion, up 211.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.02 per share and revenue of $5.02 billion, which would represent changes of +196.71% and +78.6%, respectively, from the prior year.
Any recent changes to analyst estimates for FANG should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 moved 4.72% higher. FANG currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note FANG's current valuation metrics, including its Forward P/E ratio of 9.78. This represents a discount compared to its industry's average Forward P/E of 10.21.
It is also worth noting that FANG currently has a PEG ratio of 0.45. 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. FANG's industry had an average PEG ratio of 0.59 as of yesterday's close.
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 33, putting it in the top 13% of all 250+ industries.
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.
To follow FANG in the coming trading sessions, be sure to utilize Zacks.com.
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