Why Is Diamondback (FANG) Up 7.8% Since Last Earnings Report?

Company Overview - Diamondback Energy (FANG) shares have increased by approximately 7.8% over the past month, outperforming the S&P 500 [1] - The most recent earnings report is crucial for understanding the catalysts affecting the stock [1] Earnings Estimates - Estimates for Diamondback Energy have trended downward, with a consensus estimate shift of -12.4% in the past month [2] - The overall direction and magnitude of estimate revisions indicate a downward shift, leading to a Zacks Rank of 3 (Hold) [4] VGM Scores - Diamondback Energy has an average Growth Score of C, a Momentum Score of F, and a Value Score of B, resulting in an aggregate VGM Score of C [3] Industry Comparison - Diamondback operates within the Zacks Oil and Gas - Exploration and Production - United States industry, where Range Resources (RRC) has gained 11.5% over the past month [5] - Range Resources reported revenues of $854.02 million for the last quarter, reflecting a year-over-year increase of +18.9% and an EPS of $0.96 compared to $0.69 a year ago [6] - Range Resources is expected to post earnings of $0.68 per share for the current quarter, indicating a year-over-year change of +47.8% [6] - Range Resources also holds a Zacks Rank of 3 (Hold) and has a VGM Score of A [7]