In the latest close session, Diamondback Energy (FANG) was down 2.47% at $182.00. The stock's performance was behind the S&P 500's daily gain of 0.81%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 1.3%.
Shares of the energy exploration and production company witnessed a loss of 5.06% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 3.61%, and the S&P 500's gain of 1.13%.
Analysts and investors alike will be keeping a close eye on the performance of Diamondback Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on August 3, 2026. It is anticipated that the company will report an EPS of $5.84, marking a 118.73% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.75 billion, up 29.28% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $19.33 per share and revenue of $17.9 billion. These totals would mark changes of +44.58% and +19.13%, respectively, from last year.
Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. The Zacks Consensus EPS estimate has moved 1.62% lower within the past month. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Diamondback Energy has a Forward P/E ratio of 9.65 right now. For comparison, its industry has an average Forward P/E of 9.61, which means Diamondback Energy is trading at a premium to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 177, positioning it in the bottom 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Diamondback Energy, Inc. (FANG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).