Yahoo Finance Why Diamondback Energy (FANG) is a Top Momentum Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Diamondback Energy (FANG)
Founded in 2007, Midland, TX-headquartered Diamondback Energy, Inc. is an independent oil and gas exploration & production company with its primary focus on the Permian Basin, where it has more than 490,000 net acres. Its activities are concentrated in the Wolfcamp, Spraberry and Bone Spring formations.
FANG sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 2% and up 4.4% over the past one-week and four-week period, respectively, and Diamondback Energy has gained 49.9% in the last one-year period as well. Additionally, an average of 1,325,253.50 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, seven analysts revised their earnings estimate higher in the last 60 days for FANG, while the Zacks Consensus Estimate has increased $0.83 to $18.83 per share. FANG also boasts an average earnings surprise of 0.7%.
Investors should take the time to consider FANG for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Diamondback Energy, Inc. (FANG) : Free Stock Analysis Report
