Diamondback Is Our Top Pick in the North American Upstream Oil Segment
WTI crude plunged 8% on Nov. 12, extending a rout that has wiped off 28% of the benchmark’s value in about six weeks. Front-month futures ended the day at $55/bbl, aligning with our midcycle forecast for the first time since October 2017. The slump has weighed heavily on upstream equities, pushing the stocks of narrow-moat rated industry cost leaders like Diamondback Energy, Pioneer Natural Resources, and Continental Resources into 4-star territory. Among integrated firms, narrow-moat rated Roya...Diamondback Energy is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. The company's activities are primarily focused on horizontal development of the Spraberry and Wolfcamp formations of the Midland Basin and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the larger Permian Basin in West Texas and New Mexico.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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