Diamondback Energy is a prominent independent oil and natural gas exploration and production company primarily focused on developing its assets in the Permian Basin of West Texas
The company engages in the acquisition, exploration, and production of hydrocarbon resources, leveraging advanced technologies and efficient operational practices to optimize its output. With a commitment to sustainable development, Diamondback Energy aims to responsibly manage its environmental impact while delivering value to its shareholders through a balanced approach to growth and financial discipline. The company also explores strategic opportunities to enhance its portfolio and expand its resource base.
Stay informed about the performance of the S&P500 index one hour before the close of the markets on Monday. Uncover the top gainers and losers in today's session for valuable insights.
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Join us in exploring the top gainers and losers within the S&P500 index one hour before the close of the markets on Thursday as we examine the latest happenings in today's session.
Diamondback Energy shares are trading higher on Tuesday after the company reported better-than-expected 2024 fiscal-year fourth-quarter earnings on Monday after the market closed.
The major indices struggled to maintain early momentum on Monday, but appear to climbing back with the S&P 500 and Dow Jones both green in midday trading.
Diamondback Energy (FANG) and Viper Energy (VNOM) have different technical signals: FANG is strongly bearish, VNOM is more bullish. FANG trades below key levels, while VNOM remains above them.
Following the transition, Stice would become the executive chair of the board and remain in that position until the annual stockholders’ meeting in 2026.
The company has also committed to selling at least $1.5 billion of non-core assets to accelerate debt reduction. Diamondback expects to reduce net debt to $10 billion and maintain leverage of $6 billion to $8 billion over the long term.
Double Eagle IV Midco, LLC (“Double Eagle”) today announced that it has entered into a definitive purchase agreement to divest its equity interest in certain subsidiaries to Diamondback Energy, Inc. (NASDAQFANG) (“Diamondback”) in exchange for $3 billion of cash and approximately 6.9 million shares of Diamondback common stock.
Diamondback Energy intends to acquire subsidiaries of Double Eagle IV Midco for approximately 6.9 million shares of its common stock and $3 billion in cash.
