Analysts revamp Diamondback Energy's stock price target ahead of earnings [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
At the time, some people called the project “Drake's Folly,” but it actually marked the birth of the modern petroleum industry. Related: Get ready for $5-a-gallon gasoline Drake sold his "black gold" for $20 a barrel and people have been buying the stuff ever since. Diamondback Energy FANG has been making its mark in the Permian Basin, which is located in the Southwest and has the distinction of being the highest producing oil field in the country. On Feb. 12 Diamondback said it would buy a privately held rival, Endeavor Energy Partners, in a $26 billion cash-and-stock deal that would “create a premier Permian independent operator.” “This is a combination of two strong, established companies merging to create a ‘must own' North American independent oil company,” Travis Stice, Diamondback's chairman and CEO, said in a statement. "With this combination, Diamondback not only gets bigger, it gets better.” During a Feb. 21 call with analysts , Stice said that in his experience
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