Pullback Puts Diamondback Back In 4-Star Territory
Oil prices remain lofty on the back of a yearlong rally, fueled by fears about geopolitical supply shortages, robust demand growth, and various bottlenecks capping near-term growth from U.S. shale. But more recently, prices have been moving in the opposite direction. West Texas Intermediate crude has slipped almost 10% since the May 22 high, and Diamondback shares have retreated, too, widening the discount to our fair value estimate to about 14%. As a result, the stock--which is our top pick in ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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