Published on 13 Mar 2023 on Zacks via Yahoo Finance
Diamondback Energy (FANG) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this energy exploration and production company have returned -9%, compared to the Zacks S&P 500 composite's -5.4% change. During this period, the Zacks Oil and Gas - Exploration and Production - United States industry, which Diamondback falls in, has lost 11.6%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.