Giant Oil & Gas Merger Sends Stock Higher
FANGDiamondback Energy(FANG) Schaeffers Research·2024-02-13 00:21

Diamondback Energy Inc (NASDAQ:FANG) stock is shooting higher today, after reports that the oil and gas name is acquiring Endeavor Energy for 26billion.Thecash−and−stockdealwillincludedebt,and"representsoneofthemoreattractive"dealsinthepastseveralyearsaccordingtoanotefromTruistSecurities.Atlastglance,FANGwasup9.926 billion. The cash-and-stock deal will include debt, and "represents one of the more attractive" deals in the past several years according to a note from Truist Securities. At last glance, FANG was up 9.9% at 166.77, pushing back toward its Oct. 18 record high of $171.39 and on track for its best day since April 2021. The equity's recent pullbacks have seen suppor ...