Diamondback Energy traded at $191.48 this Friday May 29th, decreasing $2.66 or 1.37 percent since the previous trading session. Looking back, over the last four weeks, Diamondback Energy lost 6.88 percent. Over the last 12 months, its price rose by 42.31 percent. Looking ahead, we forecast Diamondback Energy to be priced at 196.64 by the end of this quarter and at 184.90 in one year, according to Trading Economics global macro models projections and analysts expectations.
Diamondback Energy, Inc. is an independent oil and natural gas company. The Company operates in two segments, which include the upstream segment and the midstream operations segment. The upstream segment is engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. The midstream operations segment is focused on owning, operating, developing and acquiring midstream infrastructure assets in the Midland and Delaware Basins of the Permian Basin. The Company has approximately 542,242 net acres, which primarily consisted of approximately 264,777 net acres in the Midland Basin and 149,309 net acres in the Delaware Basin. Its upstream segment activities are primarily directed at the horizontal development of the Wolfcamp and Spraberry formations in the Midland Basin and the Wolfcamp and Bone Spring formations in the Delaware Basin within the Permian Basin.