MIDLAND, Texas, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Diamondback Stockholders, This letter is meant to be a supplement to our earnings release and is being furnished to the Securities and Exchange Commission (SEC) and released to our stockholders simultaneously with our earnings release. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. The fourth quarter of 2023 rounded out a great year for Diamondback Energy and our stockho ...

Investors are always looking for stocks that are poised to beat at earnings season and Diamondback Energy, Inc. (FANG) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Diamondback Energy is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is ...

Diamondback Energy (FANG) is set to release fourth-quarter results on Feb 20. The current Zacks Consensus Estimate for the to-be-reported quarter is a profit of $4.60 per share on revenues of $2.2 billion.Let’s delve into the factors that might have influenced the Permian-focused oil and gas producer’s performance in the December quarter. But it’s worth taking a look at FANG’s previous-quarter performance first.Highlights of Q3 Earnings & Surprise HistoryIn the last reported quarter, this Midland, TX-based ...

A wave of consolidation is sweeping through the energy sector right now. Since last autumn, a number of billion-dollar takeover deals have been announced that are focused on the Permian Basin situated across parts of Texas and New Mexico. The consolidation comes as oil prices continue to slump and large energy companies struggle with declining production, reduced profits, and the global transition to clean energy alternatives. This backdrop has led to this list of energy stocks to sell.After peaking at more ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Diamondback Energy (FANG) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 20, 2024, might help the stock move higher if these key numbers are bette ...

Diamondback Energy, Inc. (FANG) and Endeavor Energy Resources, L.P. have announced a definitive merger agreement, set to create a Permian Basin powerhouse. This deal, valued at $26 billion, will combine the strengths of two major players in the U.S. shale oil industry.Let's delve into the details of this agreement.Understanding the Merger AgreementPer the terms of the agreement, Diamondback and Endeavor will come together in a transaction structured to include a combination of stock and cash. This transacti ...

HOUSTON--(BUSINESS WIRE)--Verde Clean Fuels, Inc. (NASDAQ: VGAS) (“Verde” or the “Company”) and Cottonmouth Ventures LLC, a subsidiary of Diamondback Energy (NASDAQ: FANG) (“Diamondback”), today announced that the parties have executed a Joint Development Agreement (“JDA”) for the proposed development, construction, and operation of a facility to produce commodity-grade gasoline utilizing associated natural gas feedstock supplied from Diamondback’s operations in the Permian Basin. The JDA provides a pathwa ...

The consolidation wave in the oil patch has washed over another producer. Diamondback Energy (FANG 9.38%) has struck a deal to acquire privately held rival Endeavor Energy Resources for $26 billion. The acquisition will create a premier producer focused on the resource-rich Permian Basin. The merger of Diamondback and Endeavor follows in the footsteps of recent deals by ExxonMobil (XOM 1.38%) and Occidental Petroleum (OXY 0.97%), which are bulking up their positions in the Permian Basin. Like those deals, t ...

Diamondback Energy Inc (NASDAQ:FANG) stock is shooting higher today, after reports that the oil and gas name is acquiring Endeavor Energy for $26 billion. The cash-and-stock deal will include debt, and "represents one of the more attractive" deals in the past several years according to a note from Truist Securities. At last glance, FANG was up 9.9% at $166.77, pushing back toward its Oct. 18 record high of $171.39 and on track for its best day since April 2021. The equity's recent pullbacks have seen suppor ...

BRAZIL - 2023/02/15: In this photo illustration, the Diamondback Energy logo is seen displayed on a ... [+] smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesMidland-based Diamondback Energy FANG was already a big upstream company in the prolific Permian Basin which straddles the border between West Texas and Southeast New Mexico. But the company led by CEO Travis Stice is now poised to become one of the region’s giants in the ...