Diamondback Energy (FANG) closed the most recent trading day at $161.01, moving +1.58% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.77%. Elsewhere, the Dow saw an upswing of 1.42%, while the tech-heavy Nasdaq appreciated by 2.28%.

Shares of the energy exploration and production company have appreciated by 1.52% over the course of the past month, outperforming the Oils-Energy sector's gain of 0.43% and the S&P 500's loss of 5.73%.

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 May 5, 2025. The company is expected to report EPS of $3.73, down 17.11% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $3.61 billion, reflecting a 62.19% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $15.25 per share and a revenue of $14.92 billion, signifying shifts of -7.97% and +34.79%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for Diamondback Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.68% lower. As of now, Diamondback Energy holds a Zacks Rank of #3 (Hold).

In terms of valuation, Diamondback Energy is presently being traded at a Forward P/E ratio of 10.4. This indicates a premium in contrast to its industry's Forward P/E of 8.31.

Also, we should mention that FANG has a PEG ratio of 1.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 1.25 based on yesterday's closing prices.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the 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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This article originally published on Zacks Investment Research (zacks.com).

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