Diamondback Energy (FANG) Outpaces Stock Market Gains: What You Should Know
Diamondback Energy (FANG) closed the most recent trading day at $75.26, moving +1.33% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.93%.
Prior to today's trading, shares of the energy exploration and production company had gained 3.13% over the past month. This has outpaced the Oils-Energy sector's loss of 4.5% and lagged the S&P 500's gain of 5.84% in that time.
FANG will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2021. On that day, FANG is projected to report earnings of $1.81 per share, which would represent year-over-year growth of 24.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $962.13 million, up 7.02% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.95 per share and revenue of $4.68 billion. These totals would mark changes of +161.51% and +66.49%, respectively, from last year.
Any recent changes to analyst estimates for FANG should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection has moved 10.07% higher. FANG is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, FANG is holding a Forward P/E ratio of 9.91. This represents a no noticeable deviation compared to its industry's average Forward P/E of 9.91.
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 55, putting it in the top 22% 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.
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, Inc. (FANG) : Free Stock Analysis Report
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