Better Energy Stock: Diamondback Energy vs. Occidental Petroleum
Occidental Petroleum (NYSE: OXY) and Diamondback Energy (NASDAQ: FANG) are two of the leading producers in the prolific Permian Basin that runs through parts of Texas and New Mexico. That basin has almost single-handedly turned America into an oil-producing powerhouse. Given the significant resources still in that basin, the country could remain a leading oil producer for many years.
The Permian Basin should fuel growth for these two leading energy stocks for years to come. Here's a closer look at which is the best one to buy right now.
Diamondback Energy is the leading pure-play producer in the Permian. The company has amassed a large-scale position with 870,000 net acres via a series of acquisitions. The biggest was its $26 billion transformational merger with Endeavor Energy Resources, which closed in September. The combined company should produce over 816,000 barrels of oil equivalent (BOE) per day. Diamondback now has over 6,100 total drilling locations remaining at a break-even level of less than $40 a barrel.
Source Fool.com
Diamondback Energy Stock
The stock is one of the favorites of our community with 63 Buy predictions and 1 Sell predictions.
With a target price of 181 € there is a positive potential of 35.58% for Diamondback Energy compared to the current price of 133.5 €.
