The most recent trading session ended with Diamondback Energy (FANG) standing at $124.53, reflecting a +0.94% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.23% loss on the day. Elsewhere, the Dow saw a downswing of 0.91%, while the tech-heavy Nasdaq appreciated by 0.1%.

Shares of the energy exploration and production company witnessed a loss of 11.95% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 7.71% and outperforming the S&P 500's loss of 12.13%.

The investment community will be paying close attention to the earnings performance of Diamondback Energy in its upcoming release. The company is slated to reveal its earnings on May 5, 2025. The company is expected to report EPS of $3.67, down 18.44% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $3.58 billion, showing a 60.65% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $14.89 per share and a revenue of $14.76 billion, demonstrating changes of -10.14% and +33.42%, respectively, from the preceding year.

Any recent changes to analyst estimates for Diamondback Energy should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.86% fall in the Zacks Consensus EPS estimate. Diamondback Energy currently has a Zacks Rank of #3 (Hold).

From a valuation perspective, Diamondback Energy is currently exchanging hands at a Forward P/E ratio of 8.29. For comparison, its industry has an average Forward P/E of 6.62, which means Diamondback Energy is trading at a premium to the group.

Also, we should mention that FANG has a PEG ratio of 0.99. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.79 as trading concluded yesterday.

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 178, finds itself in the bottom 29% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research