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Diamondback Energy, Inc.

FANG · NASDAQ-GS

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Symbol: FANG
Type: Stock
Sector: Energy
Industry: Oil & Gas Production
Country: North America
Exchange: NASDAQ-GS

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas.

Key Issues

Bullish view

Diamondback exceeded second-quarter earnings and revenue estimates by 8.73% and 16.82%, respectively, while RTTNews reported that quarterly profit increased year over year. Those results support the view that operating execution can offset near-term market volatility.

Bearish view

The stock surrendered nearly all of its late-July advance immediately after the earnings period, falling from $202.95 to $191.87. The reversal suggests that a quarterly beat alone may not resolve concerns about the forward outlook.