About Diamondback Energy, Inc. In connection with the earnings release, Diamondback will host a conference call and webcast for investors and analysts to discuss its results for the second quarter of 2024 on Tuesday, August 6, 2024 at 8:00 a.m. CT. Access to the webcast, and replay which will be available following the call, may be found here. The live webcast of the earnings conference call will also be available via Diamondback's website at www.diamondbackenergy.com under the "Investor Relations" section ...

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better. Stock to Watch: 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 is a #3 (Hold) on the Zacks Rank, with a VGM Score of A. It also boasts a V ...

From a valuation perspective, Diamondback Energy is currently exchanging hands at a Forward P/E ratio of 9.96. This valuation marks a premium compared to its industry's average Forward P/E of 9.28. The most recent trading session ended with Diamondback Energy (FANG) standing at $193.97, reflecting a +1.93% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.26% for the day. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.35%. Shar ...

Diamondback Energy's (FANG) joint venture (JV) with Five Point Energy LLC, Deep Blue Midland Basin, has acquired the water infrastructure assets from Lagoon Operating Midland. The acquisition underscores the JV's commitment to sustainable water management practices at the heart of the Midland Basin. The financial details of the transaction have not been disclosed. Lagoon's assets include a large-diameter pipeline spanning approximately 105 miles, a disposal capacity of 240,000 barrels per (bpd) and an addit ...

Strategic Acquisition Expands Deep Blue's Footprint in the Midland Basin MIDLAND, Texas, June 3, 2024 /PRNewswire/ -- Deep Blue Midland Basin LLC ("Deep Blue" or the "Company"), a joint venture between Diamondback Energy (NASDAQ: FANG) and Five Point Energy LLC ("Five Point"), announced today it has acquired Lagoon Operating – Midland, LLC ("Lagoon"). This strategic acquisition further solidifies Deep Blue's position as a key player in sustainable water management in the core of the Midland Basin. The Lagoo ...

Significance of the Sale Financial Impact: This sale represents a significant financial milestone for FANG. Through its subsidiary, Rattler Midstream LP, FANG has owned a 25% stake in Remuda Midstream Holdings LLC (WTG Midstream) since October 2021. The sale of WTG Midstream Holdings LLC represents an approximate 3.5x on invested capital for FANG. Debt Reduction Strategy: Proceeds from this transaction will be strategically used to reduce debt associated with the pending Endeavor Energy Resources, L.P. merg ...

MIDLAND, Texas, May 28, 2024 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback") today announced the sale of WTG Midstream Holdings LLC to Energy Transfer LP (NYSE: ET) ("ET") resulting in total pre-tax consideration net to Diamondback of approximately $375 million, subject to customary closing conditions and adjustments. Consideration for the transaction will consist of a mix of cash and ET common units. The transaction is expected to close in the third quarter of 2024. Diamondback, ...

Diamondback Energy (FANG) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term. Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock. Our analysis is essentially based on how sell-side analysts coverin ...

bjdlzx Introduction Diamondback Energy (NASDAQ:FANG) is a low-cost energy producer that offers an attractive investment opportunity for those wishing to build their portfolio allocation toward energy. The company enjoys technical production advantages and efficiencies that help it maintain excellent margins through low-cost production. Diamondback bases its entire strategy on several strategic components: 1) Consistent low-cost production to undercut competitors, 2) pursuit of selective M&A activity to incr ...

U.S. energy operator Diamondback Energy (FANG) reported first-quarter 2024 adjusted earnings per share of $4.50, which beat the Zacks Consensus Estimate of $4.29 and came ahead of the year-ago adjusted figure of $4.10. The outperformance primarily reflects stronger production and a drop in overall realization.Meanwhile, revenues of $2.2 billion rose 15.7% from the year-ago quarter’s sales and outperformed the Zacks Consensus Estimate by $137 million.In good news for investors, the company is using the exces ...