Diamondback Energy(US:FANG) ZACKS·2024-06-28 23:20Core Viewpoint - Investors are closely monitoring Diamondback Energy's upcoming earnings report, expected to show significant growth in both earnings per share (EPS) and revenue compared to the previous year [1]. Company Performance - Diamondback Energy is forecasted to report an EPS of $4.81, reflecting a 30.71% increase from the same quarter last year [1]. - The anticipated revenue for the company is $2.25 billion, indicating a 17.09% rise compared to the year-ago quarter [1]. - For the entire fiscal year, the Zacks Consensus Estimates project earnings of $19.06 per share and revenue of $9.24 billion, representing increases of 5.83% and 9.86%, respectively, from the prior year [10]. Stock Performance - As of the latest trading day, Diamondback Energy's shares closed at $200.19, showing a 0.5% increase from the previous session [9]. - Over the past month, the company's shares gained 0.94%, while the Oils-Energy sector declined by 1.17% and the S&P 500 increased by 3.53% [5]. Valuation Metrics - Diamondback Energy has a Forward P/E ratio of 10.45, which is a premium compared to its industry's Forward P/E of 10.16 [7]. - The current PEG ratio for Diamondback Energy is 1.08, which is lower than the industry average PEG ratio of 1.16 [3]. Analyst Sentiment - Recent revisions to analyst forecasts for Diamondback Energy are crucial, as positive estimate revisions indicate optimism about the company's business outlook [6]. - The company currently holds a Zacks Rank of 3 (Hold), with a consensus EPS projection that has increased by 0.07% in the past 30 days [11]. Industry Context - The Oil and Gas - Exploration and Production - United States industry has a Zacks Industry Rank of 70, placing it in the top 28% of over 250 industries [12].