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Diamondback Energy (FANG) Stock Moves -0.06%: What You Should Know

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In the latest trading session, Diamondback Energy (FANG) closed at $160.31, marking a -0.06% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.

Coming into today, shares of the energy exploration and production company had gained 23.54% in the past month. In that same time, the Oils-Energy sector gained 10.73%, while the S&P 500 gained 1.03%.

Wall Street will be looking for positivity from Diamondback Energy as it approaches its next earnings report date. In that report, analysts expect Diamondback Energy to post earnings of $6.60 per share. This would mark year-over-year growth of 175%. Meanwhile, our latest consensus estimate is calling for revenue of $2.43 billion, up 44.52% from the prior-year quarter.

FANG's full-year Zacks Consensus Estimates are calling for earnings of $26.10 per share and revenue of $9.8 billion. These results would represent year-over-year changes of +128.35% and +44.11%, respectively.

Investors might also notice recent changes to analyst estimates for Diamondback Energy. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.19% higher. Diamondback Energy is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 6.15. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 6.15.

We can also see that FANG currently has a PEG ratio of 0.28. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.29 as of yesterday's close.

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 16, which puts it in the top 7% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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