Diamondback Energy Shares Climb On Better-Than-Expected Q4 Earnings
Portfolio Pulse from Erica Kollmann
Diamondback Energy, Inc. (NASDAQ:FANG) reported Q4 earnings surpassing analyst expectations with adjusted earnings of $4.74 per share and quarterly sales of $2.23 billion. The company also exceeded its production guidance and announced significant returns to stockholders including dividends and share repurchases. Diamondback expects full-year 2024 oil production of between 270 and 275 MBO/D and capital expenditures of between $2.3 billion and $2.55 billion.
February 20, 2024 | 9:57 pm
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Diamondback Energy reported better-than-expected Q4 earnings and sales, exceeded production guidance, and announced significant returns to stockholders. The company also provided an optimistic outlook for 2024.
The positive earnings report, exceeding production guidance, and the announcement of significant returns to stockholders, including dividends and share repurchases, are likely to instill confidence in investors. The optimistic outlook for 2024 further supports a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100