Jim Cramer breaks down why he's keeping an eye on shares of Diamondback Energy.
The headline numbers for Diamondback (FANG) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Diamondback Energy (FANG) came out with quarterly earnings of $3.64 per share, beating the Zacks Consensus Estimate of $3.26 per share. This compares to earnings of $4.74 per share a year ago.
Diamondback Energy Inc. FANG and Viper Energy Inc. VNOM are heading into fourth-quarter earnings under heavy bearish pressure, but their technical setups reveal contrasting signals for investors.
Diamondback Energy's CEO transition has Kaes Van't Hof replacing Travis Stice. The company announced a strategic Midland Basin acreage acquisition. Diamondback's future growth may require exploring new regions beyond the Permian Basin due to rising competition and prices.
The latest trading day saw Diamondback Energy (FANG) settling at $162.09, representing a +1.14% change from its previous close.
The transformational Endeavor acquisition likely to have boosted FANG's profit levels in the fourth quarter.
FANG acquires Double Eagle's Midland Basin assets for $4B, adding 40,000 net acres and boosting free cash flow.
Beyond analysts' top -and-bottom-line estimates for Diamondback (FANG), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2024.
Diamondback Energy Inc (NASDAQ:FANG, ETR:7DB) has become the latest oil and gas producer to expand its foothold in the bustling Permian Basin, the epicenter of US oil and gas production. A flurry of recent merger and acquisition (M&A) activity has highlighted the Permian's critical role in the nation's energy future.
FANG is in talks to acquire Double Eagle for over $5 billion, aiming to expand its presence in the Permian Basin.
Oil and gas company Diamondback Energy said on Tuesday it would buy certain units of Texas-based energy producer Double Eagle in a cash-and-stock deal for about $4.08 billion.