What's Going On With Diamondback Energy Stock?

Adam Eckert

October 01, 2024

Diamondback Energy Inc (NASDAQ:FANG) shares climbed nearly 3% on Tuesday. Here’s a look at what’s going on.

What To Know: Diamondback Energy shares traded higher Tuesday as energy stocks jumped amid rising Middle East tensions. Iran launched an attack on Israel following the recent killing of Hezbollah leader Hassan Nasrallah. Iran reportedly fired between 100 and 200 missiles towards Israel on Tuesday.

Diamondback Energy may have also gotten a lift after Wells Fargo analyst Roger Read maintained an Overweight rating on the stock Tuesday morning. Read lowered Wells Fargo’s price target from $230 to $219, but the price objective remains well above current levels.

The Wells Fargo update came on the heels of two similar moves from analysts on Monday. Evercore ISI Group maintained an Outperform rating and lowered its price target to $209, and Truist Securities maintained a Buy rating and lowered its price target to $220.

Don’t Miss: Hurricane Helene Devastation: The Latest On Damage, Companies Affected

What Else: After the market close on Tuesday, Diamondback Energy announced the closing of an acquisition and updated its guidance for the third quarter.

Diamondback subsidiary Viper Energy completed its acquisition of certain mineral and royalty interest-owning subsidiaries of Tumbleweed Royalty IV.

The acquisition had a total consideration of approximately $459 million in cash, the issuance of approximately 10.1 million OpCo units to Tumbleweed Royalty and an option granted to Tumbleweed to acquire the same number of shares of Viper’s Class B common stock as the OpCo units.

Diamondback Energy also updated its third-quarter guidance to reflect the Endeavor Energy Resources deal completed on Sept. 10. Diamondback now expects third-quarter oil production of 319 to 321 MBO/d. The company also anticipates capital expenditures of $675 million to $700 million for the third quarter.

Diamondback is scheduled to report third-quarter financial results on Nov. 4. Analysts expect the company to report earnings of $4.56 per share and revenue of $2.331 billion, according to estimates from Benzinga Pro.

FANG Price Action: Diamondback Energy shares closed Tuesday up 2.97% at $177.52, according to Benzinga Pro.

Photo: Joe from Pixabay.

Recommended

Gold at $2,600... But This Stock Gives You More for Under $20 - Ad

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

Collect 10%+ Dividends From AI's Explosive Growth? - Ad

The vice presidential debate was far from being confrontational and the two sides avoided personal attacks and deliberated mainly on policies.

Court throws out manslaughter charge against clerk in Detroit gas station shooting

DETROIT (AP) — The Michigan Court of Appeals threw out a manslaughter charge against a Detroit gas station clerk who locked the door before an , killing one.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now)

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

Jim Cramer Hand Picks These 3 Stocks To Ride The Crest Of The Chinese Stimulus Frenzy

China has gone out in full throttle to stimulate its economy and analysts are mostly upbeat about its ramifications.

Ex-Microsoft CEO And Billionaire Steve Ballmer Says He Gets 'Most Important Stuff' From Elon Musk's X: 'I Wanna Know Straight From The Source'

Steve Ballmer, the former CEO of Microsoft and current owner of the Los Angeles Clippers, has declared Elon Musk-owned social media platform X as his go-to source for news.

President Trump and Elon Musk Issue Stark Warning

President Trump and Elon Musk Issue Stark Warning - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Cathie Wood's Ark Invest Dumps Palantir Shares Amidst S&P 500 Inclusion And Extended AI Alliance

Cathie Wood's Ark Invest sold shares of Palantir on the day the company was included in the &P500. The sale came also as Palantir announced a multi million dollar extension of its deal with APA Corp on Sept. 25, 2024.

Top 3 Tech Stocks That Are Ticking Portfolio Bombs

Three stocks in the information technology sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Our No. 1 Stock for the Rare "Millionaire Window" Opening Now

Our No. 1 Stock for the Rare "Millionaire Window" Opening Now - Ad

According to Wall Street legend Whitney Tilson, an extremely rare window in the markets is about to open. It's an often-misunderstood market setup we've only seen 13 times since 1920. The last time this happened, it minted a million brand-new millionaires -- in a single year. But Tilson says this unique window in the markets could close much sooner than anyone realizes, leaving most investors in the dust, while making a select few incredibly rich.

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

Wall Street On Wait-And-Watch Mode Ahead Of Inflation Data, Bitcoin Holds Above 65.5K: Analyst Says Volatility Ahead Providing Better Entry Point Into Long-term Bull Market

Sentiment has soured ahead of the key inflation data that is due ahead of the market open on Friday, with the index futures pointing to a modestly lower opening.

Details on the U.S. $7,882 Stimulus

Details on the U.S. $7,882 Stimulus - Ad

The U.S. Government recently announced a new "stimulus program"...And it could hand you a payment for as much as $7,882 -- each quarter. See, it has to do with a leaked 19-page memo...Better still, you can collect these payouts every single quarter -- for life...I call this the "Stimulus Stipends" program.

Home cookin': Diners skipping restaurants and making more meals at home as inflation trend inverts

NEW YORK (AP) — Eating in is in and eating out is out.

Elon Musk Comments On Why They Want To Kill Trump, DeSantis Promises Florida's Own Probe

A second assassination attempt on Donald Trump was foiled by the U.S. Secret Service while he was golfing in Florida, with political figures from both parties condemning the incident and reaffirming the importance of denouncing political violence.

A 10,000% Dividend?!?

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

Safety board says pedals pilots use to steer Boeing Max jets on runways can get stuck

WASHINGTON (AP) — Safety investigators are making “urgent” recommendations to Boeing and the Federal Aviation Administration after determining pedals that pilots use to steer 737 Max jetliners on runways can become jammed because moisture can leak into a rudder assembly and freeze.

Mark Zuckerberg Says, Orion 'Is Probably Going To Be The Next Major Platform After Phones' â€” Meta's New AR Wearables Real-Life Tony Stark Glasses In The Making?

In an interview with YouTuber Cleo Abram, Meta CEO Mark Zuckerberg described the Orion AR Glasses as the first-ever full holographic augmented reality glasses, developed over a decade, which he believes will become the next major computing platform after smartphones.

My No. 1 Oil Play for 2024

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Consumer Tech News (Sept 23- Sept 27): OpenAI pitched President Biden For Expansion Of Data Centers, Apple Discontinued iPhone 15 And 13 Models & More

UAE President meets Biden to discuss AI cooperation. OpenAI pushes for expansion of data centers. SAG-AFTRA strikes against League of Legends. Sony celebrates PlayStation's 30th anniversary with limited edition consoles. Ubisoft delays Assassin's Creed Shadows, SkyBox Labs lays off employees, and Steam sets a new record for concurrent players.

Canoo Expands Globally With UK Launch, Establishes Activation Center At Historic Bicester Motion

Canoo revealed its official entry into the U.K. market by establishing Canoo Technologies UK Limited, representing a key milestone in the company's global expansion strategy.

Man Who Called Nvidia at $1.10 Says Buy This Now...

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Mary Trump Says Americans Pay The Price As Her Uncle Sets World On Fire With His Provocations: 'I Worry About What Will Happen'

Mary Trump, the niece of Trump, says violence begets violence as be pondered over the second assassination attempt at the ex-president.

Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts

WASHINGTON (AP) — The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next.

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

A new technology (not AI) is powerful enough to save America $1.7 TRILLION in healthcare costs each year. Trump is rumored to use it personally... And Kamala Harris has threatened to have key patents on it seized. Whoever wins the election - it could cause a massive surge in demand... And send a tiny firm with key patents on this technology soaring. It's currently trading for only $7. But it likely won't stay this cheap for long.

PayPal Steps Up Crypto Game, Allows US Merchants To Buy, Sell, And Hold Digital Assets

Payments giant PayPal Holdings Inc. (NASDAQ:PYPL) unveiled its plan to extend cryptocurrency services to U.S. business account holders, with the exception of New York State.

What's Going On With Trump Media & Technology Stock On Wednesday?

Trump's stock in his media company has been in recovery mode since lockup period expired, while he continues to promote pro-American policies.

50-Year Wall Street Legend: "Prepare for an Election Surprise"

50-Year Wall Street Legend: "Prepare for an Election Surprise" - Ad

During his 50 years on Wall Street, legendary stockpicker traded through 13 presidential elections. Today, he is stepping forward to warn of a critical market shift that could blindside millions of Americans before Election Day.

This Homebuilder Is Slashing Prices In Key Cities Where Prices Soared The Most

In response to changing market conditions in Florida and Texas, leading homebuilder KB Home (NYSE: KBH) has decided to slash home prices in Austin, San Antonio, Orlando, and Jacksonville.

Video Shows 2,000-Pound Bombs Used In Israeli Military's Assault On Hezbollah Leader Nasrallah

A video analysis has revealed that the Israeli military's attack, which led to the death of Hezbollah's leader, Hassan Nasrallah, involved the use of 2,000-pound bombs.

5 Stocks That Could Triple in a Week

5 Stocks That Could Triple in a Week - Ad

What if I told you that I have a system that has detected when these tiny stocks are on the verge of exploding... And what if I told you my system has targeted 5 new stocks that could triple as early as next week? Pay just $5 for a full year of Stealth Trades before this deal disappears!

Cards Against Humanity sues Elon Musk's SpaceX over alleged trespassing in Texas

The maker of the popular party game Cards Against Humanity is accusing Elon Musk’s SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas.

GE Vernova's Gas Power Services Underappreciated & Poised For Growth: Analyst

GE Vernova upgraded to Buy by BofA Securities, price target raised from $200 to $300. Analyst sees potential in Gas Power Services.

Have You Collected a "Crypto Royalty?"

Have You Collected a "Crypto Royalty?" - Ad

Have you collected a "Crypto Royalty?" If not, you're not alone. "Crypto Royalties" give regular folks the opportunity to collect "royalty-like" income from the cryptos they own. This is my #1 crypto strategy for 2024 -- even though few investors know about them...

Why Is Rocket Lab Stock Up Today?

Rocket Lab shares are climbing again Friday after Keybanc raised its price target on the stock from $8 to $11. Here's a look at what's going on:

US-China research has given Beijing's military technology a boost, House GOP says

WASHINGTON (AP) — Partnerships between the U.S. and China at universities over the past decade have allowed hundreds of millions of dollars in federal funding to aid Beijing in developing critical technology that could be used for military purposes, congressional Republicans asserted in a new report.

This Is How the AI Bull Market Ends

This Is How the AI Bull Market Ends - Ad

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

Chuck Schumer Slams Trump's 'Poison Pill' Efforts As Congressional Leaders Agree On Temporary Funding Deal: 'Clearly He Doesn't Care'

Chuck Schumer has criticized former President Donald Trump for spending a month encouraging the House GOP to shut down the government

Iran Attacks Israel With Missiles, Middle East Tensions Escalates: S&P 500, Stocks, Bitcoin Fall As Oil, Gold Rise

On Tuesday, Iran launched a missile attack against Israel following the recent killing of Hezbollah leader Hassan Nasrallah. The strike occurred after the United States warned that an attack in the region was imminent.

Prepare for an Election Day Stock Surprise

Prepare for an Election Day Stock Surprise - Ad

As we suffer through the worst market volatility since the 2020 election year... The weeks leading up to November 5th could be the most important weeks of 2024 for your wealth. Marc Chaikin just stepped forward to warn of a new election stock warning.

Ports seek order to force dockworkers to bargaining table as strike looms at East and Gulf ports

DETROIT (AP) — With a , the group representing East and Gulf Coast ports is asking a federal agency to make the Longshoremen's union come to the bargaining table to negotiate a new contract.

Trending Now