In its upcoming report, Diamondback Energy (FANG) is predicted by Wall Street analysts to post quarterly earnings of $4.92 per share, reflecting an increase of 59.7% compared to the same period last year. Revenues are forecasted to be $4.29 billion, representing a year-over-year increase of 9.4%.
Over the last 30 days, there has been an upward revision of 21.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts’ collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it’s common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts’ forecasts for key metrics can yield valuable insights.
Bearing this in mind, let’s now explore the average estimates of specific Diamondback metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, ‘Revenues- Oil, natural gas and natural gas liquid’ should come in at $4.28 billion. The estimate indicates a year-over-year change of +24.2%.
Analysts predict that the ‘Revenues- Natural gas liquid sales’ will reach $438.69 million. The estimate indicates a year-over-year change of +19.9%.
The consensus estimate for ‘Revenues- Oil sales’ stands at $3.70 billion. The estimate points to a change of +23.7% from the year-ago quarter.
Analysts forecast ‘Revenues- Natural gas sales’ to reach $87.17 million. The estimate points to a change of +0.2% from the year-ago quarter.
Analysts expect ‘Average daily production / Daily combined volumes’ to come in at 1014737 barrels of oil equivalent per day. Compared to the present estimate, the company reported 942946 barrels of oil equivalent per day in the same quarter last year.
Analysts’ assessment points toward ‘Average Prices – Natural gas liquids, hedged’ reaching 18 dollars per barrel. The estimate is in contrast to the year-ago figure of 17 dollars per barrel.
Based on the collective assessment of analysts, ‘Average Prices – Oil -hedged’ should arrive at 79 dollars per barrel. The estimate is in contrast to the year-ago figure of 64 dollars per barrel.
It is projected by analysts that the ‘Average Prices – Natural gas liquids’ will reach 19 dollars per barrel. Compared to the current estimate, the company reported 17 dollars per barrel in the same quarter of the previous year.
The collective assessment of analysts points to an estimated ‘Total Production Volume – Natural gas liquids’ of 23163 thousands of barrels of oil. Compared to the current estimate, the company reported 21180 thousands of barrels of oil in the same quarter of the previous year.
The average prediction of analysts places ‘Total Production Volume – Natural gas’ at $128404.70 millions of cubic feet. The estimate is in contrast to the year-ago figure of $115353.00 millions of cubic feet.
The combined assessment of analysts suggests that ‘Total Production Volume – Oil’ will likely reach 48293 thousands of barrels of oil. The estimate compares to the year-ago value of 46345 thousands of barrels of oil.
The consensus among analysts is that ‘Total Production Volume (Combined volumes)’ will reach 92857 thousands of barrels of oil equivalent. The estimate is in contrast to the year-ago figure of 86751 thousands of barrels of oil equivalent.
View all Key Company Metrics for Diamondback here>>>
Shares of Diamondback have demonstrated returns of +12.2% over the past month compared to the Zacks S&P 500 composite’s +0.9% change. With a Zacks Rank #2 (Buy), FANG is expected to beat the overall market performance in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
