Diamondback Energy (FANG) ended the recent trading session at $143.58, demonstrating a -3.15% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.26%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.48%.
Shares of the energy exploration and production company witnessed a loss of 0.34% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 4.06%, and the S&P 500's gain of 2.87%.
The investment community will be closely monitoring the performance of Diamondback Energy in its forthcoming earnings report. The company is expected to report EPS of $2.77, down 18.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.32 billion, up 25.61% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $12.63 per share and a revenue of $14.01 billion, indicating changes of -23.78% and +26.65%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Diamondback Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 past month, the Zacks Consensus EPS estimate has shifted 1.34% downward. As of now, Diamondback Energy holds a Zacks Rank of #4 (Sell).
Digging into valuation, Diamondback Energy currently has a Forward P/E ratio of 11.73. This denotes a premium relative to the industry average Forward P/E of 11.2.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 193, finds itself in the bottom 22% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Diamondback Energy, Inc. (FANG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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