Short interest for Diamondback Energy gives investors a sense of the degree to which investors are betting on the decline of Diamondback Energy's stock. Short interest data is updated every two weeks.

Diamondback Energy Stock (NASDAQ:FANG), Short Interest Report

Diamondback Energy

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2023, the company reported net proven reserves of 2.2 billion barrels of oil equivalent. Net production averaged about 448,000 barrels per day in 2023, at a ratio of 59% oil, 21% natural gas liquids, and 20% natural gas.

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Investor apprehension grips Wall Street with major indices showing midday losses on Tuesday in New York trading, ahead of the Federal Reserve’s potentially hawkish pivot in Wednesday’s meeting. 

Stocks Dive On Fears Of Hawkish Fed; Treasury Yields Rise, Bitcoin Tumbles To $60,000: What&#39;s Driving Markets Tuesday?

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We are in the middle of the first-quarter earnings season. This week is the second busiest of this reporting cycle, as nearly 1,300 companies are slated to report their quarterly financial numbers. Earnings results are so far better than expected.

5 Winners of Q1 Set to Beat on Earnings After Closing Bell

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U.S. stocks appear to be on the back foot early on Tuesday, with index futures trading modestly lower in early pre-market activity.

Wall Street On Edge Ahead Of Fed Decision, Spotlight Falls On Amazon And AMD Earnings: Analyst Says Stocks Survive &#39;Fragility Test&#39; As April Ends

Diamondback Energy Inc

FANG HOLDINGS LTD ADR by Fang Holdings Limited

Fang Holdings Ltd

Fangdd Network Group Ltd. - American Depositary Shares

Fangdd Network Group Ltd

Guidance

Diamondback Energy Sees Q2 2024 Capital Expenditures $580M-$620M

Diamondback Energy Sees FY24 Capital Expenditures $2.30B-$2.55B

Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) reported quarterly earnings of $4.50 per share which beat the analyst consensus estimate of $4.42 by 1.81 percent. The company reported quarterly sales of $2.227 billion which beat the analyst consensus estimate of $2.088 billion by 6.64 percent. This is a 15.69 percent increase over sales of $1.925 billion the same period last year.

Earnings Beats

Diamondback Energy Q1 2024 Adj EPS $4.50 Beats $4.42 Estimate, Sales $2.227B Beat $2.088B Estimate

Investor apprehension grips Wall Street with major indices showing midday losses on Tuesday in New York trading, ahead of the Federal Reserve&#8217;s potentially hawkish <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">pivot in Wednesday&#8217;s meeting. </a>
The S&amp;P 500 retraced 0.9% after a 2-day positive streak, with the tech-heavy Nasdaq 100 slightly underperforming, down 1.1%. Small caps suffered larger losses, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1.5%. 
The stock market faced renewed pressure as economic data revealed a decline in consumer confidence and persistent wage pressures, putting further pressures on the Federal Reserve. 
The Bureau of Labor Statistics reported a 1.2% increase in the employment cost index for the first quarter of 2024, surpassing market expectations of 1% growth and accelerating from the previous three-month period&#8217;s 0.9% rise. In April, the Conference Board consumer confidence index dropped from 103.1 to 97 points, falling short of forecasts for a rise to 104.
Bonds provided little refuge to investors as yields surged in response to comments from U.S. Treasury Secretary Janet Yellen, who voiced concerns about the deficit trajectory and proposed substantial measures to address budgetary gaps.
Yields on the 2-year Treasury note breached the psychological 5% threshold, aiming for the highest close since mid-November 2023. The U.S. dollar index (DXY), as tracked Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.6%. 
Gold tumbled 1.7%, pressured by higher yields and stronger greenback. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plummeted over 5%, on track for its worst daily performance in four weeks amid weak sentiment on cryptocurrencies. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,070.03</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,992.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,588.95</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,982.84</td>
<td>-1.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:39 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.9% to $505.30, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 1.1% to $379.75 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $428.01, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.1%, marking the sole positive performance among the eleven S&amp;P 500 sectors. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 2.1%.
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 5%, following a 15% surge Monday on the heels of news potentially clearing the full self-driving service in China. Goldman Sachs tempered some of the excitement in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off">a note on Tuesday. </a></li>
<li>Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose 4.6%, its strongest one-day gain since early February, as the pharmaceutical giant hiked 2024 revenue forecast. </li>
<li>Other stocks reacting to earnings were Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 0.5%; McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), down 0.2%; Eaton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), down 3%; Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 7.5%; Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>), up 5.7%; PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), up 1.2%; 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), up 3.2%; Arch Capital Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>), up 2.8% and GE Healthcare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), down 13.4%. </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell 4.2% on news that the company will delist from European exchanges. </li>
<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) fell 9.3%, hitting the lowest level since February 2009, after reports that the company could lose NBA TV rights to rival Comcast Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc., ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), Renaissancere Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), Clorox Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38526697/paramount-could-be-worth-4-or-14-per-share-in-deal-analyst-says-we-prefer-to-sit-th">Paramount Could Be Worth $4 Or $14 Per Share In Deal, Analyst Says: &#8216;We Prefer To Sit This One Out&#8217;</a>
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Stocks Dive On Fears Of Hawkish Fed; Treasury Yields Rise, Bitcoin Tumbles To $60,000: What's Driving Markets Tuesday?

U.S. stocks appear&nbsp;to be&nbsp;on the back foot early on Tuesday, with index futures trading modestly lower in early pre-market activity. Caution&nbsp;reigns supreme as traders anxiously await the Federal Reserve&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38508875/another-rate-hike-coming-in-2024-macquarie-economists-reverse-forecast-warn-of-incr" rel="noreferrer noopener">interest rate decision</a>&nbsp;on Wednesday.&nbsp;A&nbsp;hawkish stance, either&nbsp;in the post-meeting policy statement or Fed Chair Jerome Powell&#8217;s remarks,&nbsp;could trigger a market pullback.&nbsp;&nbsp;However, recent scorching inflation data has already tempered market expectations for rate cuts.
Adding to the market&#8217;s volatility, the busy earnings season commences this week. Company&nbsp;results and their outlooks for the future could significantly impact stock prices.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.16%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.08%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.51%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Tuesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.20% to $509.27,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.29% to $432.27, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From The Last Session:
Stocks closed Monday&#8217;s session on a positive note, although trading was marked by some degree of volatility. The major indices opened the session higher, as the positive momentum from Friday carried over into the new week, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leading from the front. They stayed above the unchanged line for the better part of the morning before reversing course in late afternoon trading.
While apprehension ahead of the week&#8217;s key earnings and data was attributed to the weakness, the stock recovered thereafter to close higher for a second straight session. Market participants also blamed the intraday slide on an increase in the U.S. Treasury&#8217;s June quarter borrowing estimates.
The gains were led by consumer discretionary stocks, while communication services stocks dragged.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.35%</td>
<td>15,983.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.32%</td>
<td>5,116.17</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.38%</td>
<td>38,386.09</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.70%</td>
<td>2,016.03</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ahead of the Fed meeting, Wharton Professor Jeremy Siegel, Senior Economist to&nbsp;WisdomTree, said in his weekly commentary, that the market is currently pricing in only slim chances of rate cuts this year. On Wednesday, the economist expects Powell to repeat the rhetoric that the central bank doesn&#8217;t have enough confidence to lower rates.
Siegel expects the press to probe as to whether the Fed was contemplating rate hikes. &#8220;Powell's answer to that may be illuminating,&#8221; he said. &#8220;It is quite possible with two more inflation prints before the June meeting, that the Fed can get enough information to signal imminent cuts. I'm not ruling out a rate cut at the June meeting.&#8221;
Fundstrat expressed confidence in the market recovery taking root. &#8220;Stocks survive &#8216;fragility test&#8217; of April. Roadmap for May more constructive = recovery towards S&amp;P 5,200,&#8221; said the firm in a post on X.
Upcoming Economic Data:
<ul>
<li>A two-day Federal Open Market Committee meeting gets underway on Tuesday, with the decision due only on Wednesday.</li>
<li>The Labor Department is scheduled to release its employment cost index for the first quarter at 8:30 a.m. EDT. Economists, on average, expect the index to climb 1% quarter-over-quarter, faster than the 0.9% increase in the fourth quarter.</li>
<li>The S&amp;P Case-Shiller and Federal House Finance Agency are due to release the results of their respective house price surveys at 9 a.m. EDT.</li>
<li>ISM-Chicago will release the results of its regional manufacturing survey at 9:45 a.m. EDT. The Chicago business barometer index is expected to rise from 41.4 in March to 45 in April. A reading below 50 shows contraction. </li>
<li>The Conference Board&#8217;s consumer confidence index, due at 10 a.m. EDT, may have eased slightly from 104.7 in March to 103.5 in April.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus: 
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) fell over 9.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its earnings announcement.</li>
<li>Other stocks moving on earnings are Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) (down about 4%), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (down about 5.4%), Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) (up about 16%), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) (down over 4%) and Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) (down over 5%).</li>
<li>Tesla slipped over 1% following its 15%+ jump on Monday.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose modestly on Tuesday and yet traded at the sub-$83-a-barrel mark and gold futures moved sideways around the $2,300 level.
The 10-year note yield held around the 4.628% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has pulled back over the past 24 hours and traded under $62,000.
Asian stocks moved about in a lackluster manner before closing on a mixed note. While the Japanese market, which reopened after a public holiday, rallied strongly, Chinese equities pulled back as investors weighed in the private-sector activity data.
The Japanese yen weakened after Monday&#8217;s surge achieved on the back of government intervention to prop up the currency. 
European markets were lower in early trading as investors digested a slew of domestic economic data. The euro area expanded more than expected in the first quarter, as the economy emerged out of a recession, and the March inflation came in line with forecasts. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
illustration created using artificial intelligence via MidJourney.

Wall Street On Edge Ahead Of Fed Decision, Spotlight Falls On Amazon And AMD Earnings: Analyst Says Stocks Survive 'Fragility Test' As April Ends

Issuance of the Second Request extends the waiting period under the HSR Act until 30 days after both the Company and Endeavor substantially comply with the Second Request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC.&nbsp;

On April 29, 2024, Diamondback Energy, Endeavor Each Receive Request For Additional Information From FTC Regarding Merger - Filing

Stock firebrand Jim Cramer <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">recommends buying</a> Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>).
Last week, Diamondback received stockholder approval for a proposed transaction with Endeavor Energy Resources, L.P.
As for Schlumberger Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), it did not deliver, according to Cramer. 
&#8220;I feel terrible,&#8221; the &#8220;Mad Money Lightning Round&#8221; host said. &#8220;I like the company very much, but it was weak.&#8221;
On April 19, Schlumberger reported a first-quarter 2024 revenue increase of 13% year-over-year to $8.707 billion, beating the consensus of $8.689 billion.
Cramer likes Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>).
On April 4, Celsius announced plans to expand its sales and distribution to France beginning in the fourth quarter.
When asked about Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), he said, &#8220;I want you to ka-ching, ka-ching.&#8221;
On April 23, Stifel analyst Derrick Whitfield maintained Pioneer Natural Resources with a Hold and raised the price target from $237 to $275.
Cramer also likes Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
On April 25, the AI giant inked a multi-year strategic partnership with clinical research organization Parexel to enhance and accelerate the delivery of safe and effective clinical trials for the <a href="https://www.benzinga.com/markets/equities/24/04/38427992/whats-going-on-with-palantir-technologies-today">world's biopharmaceutical customers.</a>
Cramer said The Progressive Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) is better than The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>). &#8220;If you want the insurance business, I'm going to say Progressive,&#8221; he added.
Price Action:
<ul>
<li>Diamondback Energy shares rose 0.3% to settle at $207.76 on Friday.</li>
<li>Pioneer Natural shares fell 2.3% to close at $268.87 on Friday.</li>
<li>Palantir shares gained 3.7% to settle at $22.52 on Friday.</li>
<li>Celsius shares gained 2.1% to settle at $73.16 during Friday's session.</li>
<li>SLB shares fell 0.5% to close at $49.20 on Friday.</li>
<li>Travelers shares fell 0.3% to settle at $213.45 during Friday's session.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38482010/dominos-pizza-yum-china-and-3-stocks-to-watch-heading-into-monday">Domino&#8217;s Pizza, Yum China And 3 Stocks To Watch Heading Into Monday</a>
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Jim Cramer Likes Palantir, Recommends Pioneer Natural Resources: 'I Want You To Ka-Ching, Ka-Ching'

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

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Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

Diamondback Energy Says Stockholders Approved Proposal To Amend Co's Certificate Of Incorporation To Increase Authorized No. Of Shares Of Co's Common Stock

Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) ("Diamondback" or the "Company") today announced that its stockholders have approved the issuance of shares of Diamondback common stock in connection with the proposed business combination with Endeavor Energy Resources, L.P. ("Endeavor"). &nbsp;
Additionally, Diamondback stockholders approved a proposal to amend the Company's certificate of incorporation to increase the authorized number of shares of Diamondback common stock.
The final voting results from Diamondback's special meeting of stockholders will be set forth in a Form 8-K to be filed by Diamondback with the U.S. Securities and Exchange Commission.
The business combination with Endeavor is subject to customary closing conditions, including termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Diamondback Energy Receives Stockholder Approval For Proposed Transaction With Endeavor Energy Resources, L.P.

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/04/23/final-trades-wisdomtree-india-earnings-etf-diamondback-energy-and-alphabet.html">Halftime Report Final Trades</a>,&#8221; Jim Lebenthal of Cerity Partners said Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) powered through this down turn like the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38358239/microsoft-and-oracle-could-be-tiktoks-likely-buyers-but-real-winners-would-be-mark-">downturn didn&#8217;t happen</a>.
Sundar Pichai, Google&#8217;s CEO, recently announced a significant restructuring of the company&#8217;s leadership and operational divisions to accelerate its artificial intelligence (AI) development. This move is in response to criticisms that the company is lagging <a href="https://www.benzinga.com/news/24/04/38334324/sundar-pichai-announces-restructure-after-google-fires-protesting-employees-too-important-a-moment-a">behind competitors like</a> Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Jason Snipe of Odyssey Capital Advisors picked Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), saying he likes this energy name here.
Diamondback Energy is expected to release first quarter 2024 financial results on April 30 after the closing bell. Analysts expect the company to report quarterly earnings at $4.42 per share, up from $4.10 per share in the year-ago period. The company is projected to post revenue of $2.09 billion, compared to $1.93 billion in the year-earlier quarter.
On Tuesday, Stifel analyst Derrick Whitfield maintained Diamondback Energy with a Buy and raised the price target from $224 to $229.
Stephanie Link of Hightower named the WisdomTree India Earnings Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPI#NYSE">EPI</a>) as her final trade.
Price Action:
<ul>
<li>Alphabet shares rose 1.3% to close at $159.92 on Tuesday.</li>
<li>Diamondback Energy shares gained 0.9% to settle at $204.37 during Tuesday's session.</li>
<li>WisdomTree India Earnings Fund gained 0.4% during Tuesday's session.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38396305/tesla-boeing-and-3-stocks-to-watch-heading-into-wednesday">Tesla, Boeing And 3 Stocks To Watch Heading Into Wednesday</a>
Image generated using artificial intelligence via Midjourney.

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Alphabet, Diamondback Energy And More On CNBC's 'Final Trades'

Stifel analyst Derrick Whitfield maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Buy and raises the price target from $224 to $229.

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Analyst Ratings

Stifel Maintains Buy on Diamondback Energy, Raises Price Target to $229

Truist Securities analyst Neal Dingmann maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Buy and raises the price target from $248 to $250.

Truist Securities Maintains Buy on Diamondback Energy, Raises Price Target to $250

Keybanc analyst Tim Rezvan maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Overweight and raises the price target from $210 to $225.

Keybanc Maintains Overweight on Diamondback Energy, Raises Price Target to $225

Susquehanna analyst Biju Perincheril maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Positive and raises the price target from $212 to $245.

Susquehanna Maintains Positive on Diamondback Energy, Raises Price Target to $245

Piper Sandler analyst Mark Lear maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Overweight and raises the price target from $227 to $247.

Piper Sandler Maintains Overweight on Diamondback Energy, Raises Price Target to $247

Whales with a lot of money to spend have taken a noticeably bearish stance on Diamondback Energy.
Looking at options history for Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) we detected 10 trades.
If we consider the specifics of each trade, it is accurate to state that 10% of the investors opened trades with bullish expectations and 90% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $136,175 and 7, calls, for a total amount of $353,233.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $170.29 to $211.63 for Diamondback Energy during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Diamondback Energy options trades today is 201.75 with a total volume of 440.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Diamondback Energy's big money trades within a strike price range of $170.29 to $211.63 over the last 30 days.
<h3>Diamondback Energy Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713373300_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FANG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$33.4</td>
<td>$32.0</td>
<td>$32.0</td>
<td>$170.29</td>
<td>$112.0K</td>
<td style="text-align: right;">156</td>
<td style="text-align: right;">35</td>
</tr>
<tr>
<td>FANG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$12.4</td>
<td>$9.5</td>
<td>$12.3</td>
<td>$172.82</td>
<td>$61.5K</td>
<td style="text-align: right;">149</td>
<td style="text-align: right;">91</td>
</tr>
<tr>
<td>FANG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$16.0</td>
<td>$15.3</td>
<td>$15.49</td>
<td>$190.29</td>
<td>$60.4K</td>
<td style="text-align: right;">308</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>FANG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$6.5</td>
<td>$6.4</td>
<td>$6.4</td>
<td>$195.00</td>
<td>$47.3K</td>
<td style="text-align: right;">87</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>FANG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$23.5</td>
<td>$23.0</td>
<td>$23.2</td>
<td>$211.63</td>
<td>$44.0K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">19</td>
</tr>
</tbody>
</table>

<h3>About Diamondback Energy</h3>
Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2023, the company reported net proven reserves of 2.2 billion barrels of oil equivalent. Net production averaged about 448,000 barrels per day in 2023, at a ratio of 59% oil, 21% natural gas liquids, and 20% natural gas.
In light of the recent options history for Diamondback Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Diamondback Energy</h3>
<ul>
<li>Trading volume stands at 574,637, with FANG's price down by -1.91%, positioned at $200.05.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 13 days.</li>
</ul>
<h3>What Analysts Are Saying About Diamondback Energy</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $211.2.
<ul>
<li>An analyst from Morgan Stanley has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $186. </li>
<li>Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $214.</li>
<li>Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Diamondback Energy with a target price of $217. </li>
<li>An analyst from Stifel has decided to maintain their Buy rating on Diamondback Energy, which currently sits at a price target of $224. </li>
<li>An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Diamondback Energy, which currently sits at a price target of $215. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Diamondback Energy, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Spotlight on Diamondback Energy: Analyzing the Surge in Options Activity

Morgan Stanley analyst Devin McDermott maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Overweight and lowers the price target from $186 to $184.

Morgan Stanley Maintains Overweight on Diamondback Energy, Lowers Price Target to $184

U.S. energy stocks, as tracked by the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), could potentially notch their ninth straight positive week, marking the longest pace of weekly gains since May 2007. 
Oil prices surged sharply on Friday following reports suggesting that an Iranian assault on Israel could potentially occur within <a href="https://www.benzinga.com/news/24/04/38217135/israel-prepares-for-possible-iranian-retaliation-within-48-hours-report">the next 48 hours.</a> The Times of Israel reported that &#8220;Iran attack of 100 drones, dozens of missiles could be launched at Israel today.&#8221;
The Israeli Minister of National Security convened a meeting with top officials from the police, civil defense, and emergency services to ensure their readiness for a potential Iranian strike, as reported by Sky News Arabia.
The White House confirmed on Friday that Iran&#8217;s threats to Israel are &#8220;real and credible,&#8221; emphasizing that the United States intends to do everything it can to ensure that Israel is able to defend itself.
Adding to the rising geopolitical tensions in the Middle East, the Foreign Office of the United Kingdom has cautioned its citizens against traveling to Israel and the occupied Palestinian territory due to the &#8220;possibility of an attack on Israeli territory from Iran." 
The West Texas Intermediate (WTI) light crude, as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) spiked 2.8% to above $87 a barrel, while Brent prices surged to $91 a barrel, reaching the highest levels in seven months. 
Crude is up by 22% year-to-date, while shares of major U.S. energy companies have risen 16%. 
Chart: US Energy Stocks Eye 9-Week Of Gains
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1024x495.png" alt="" class="wp-image-289826" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12111906/image-37.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Energy Stocks Rising Friday</h3>
During a day characterized by notably heightened market volatility, with the CBOE VIX surging by more than 20%, U.S. energy stocks emerged as the sole S&amp;P 500 sector to remain in positive territory.
Here is a snapshot of the top 10 performers within the XLE ETF on Friday. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>2.25%</td>
</tr>
<tr>
<td>Diamondback Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>1.36%</td>
</tr>
<tr>
<td>Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>1.05%</td>
</tr>
<tr>
<td>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>1.03%</td>
</tr>
<tr>
<td>Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)</td>
<td>0.95%</td>
</tr>
<tr>
<td>Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>)</td>
<td>0.90%</td>
</tr>
<tr>
<td>Targa Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>)</td>
<td>0.72%</td>
</tr>
<tr>
<td>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</td>
<td>0.60%</td>
</tr>
<tr>
<td>APA Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>0.60%</td>
</tr>
<tr>
<td>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>0.58%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 11:30 a.m. ET</figcaption></figure>
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38212196/inflation-upends-feds-plans-when-do-wall-street-analysts-expect-first-interest-rate">Inflation Upends Fed&#8217;s Plans: When Do Wall Street Analysts Expect First Interest Rate Cut?</a>
Image: Shutterstock

Sector ETFs

Global

TRGP

Oil Prices Spike Above $90 A Barrel As Iran-Israel Tensions Escalate: US Energy Stocks Eye 9th Week Of Gains

Scotiabank analyst Paul Cheng maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Sector Outperform and raises the price target from $210 to $255.

Scotiabank Maintains Sector Outperform on Diamondback Energy, Raises Price Target to $255

Dividend Investing: Only 14 S&P stocks have a 3% yield and have climbed over 10% YTD

Diamondback Energy: Oil Outlook Improving, But Valuation Is Stretched, And Merger May Fail

Top 10 S&P 500 energy stocks of 2024, with earnings from XOM and CVX on deck

Diamondback Energy receives stockholder approval for proposed transaction with Endeavor Energy Resources

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The World Bank has warned that an escalation of tensions in the Middle East could push oil prices above $100 per barrel, reversing the recent downward trend in global inflation. The Bank stated that even before the recent missile strikes between Iran and Israel, the fall in commodity prices had been leveling off, making interest rate decisions more challenging for central banks. This leads me to believe that the top oil and gas stocks will benefit considerably from this rise.



If the crisis worsens, the Bank&rsquo;s forecast of crude prices averaging $84 a barrel this year may prove too optimistic. The conflict could also drive up prices of natural gas, fertilisers, and food, as a fifth of liquefied natural gas exports pass through the Strait of Hormuz.



So with this thesis in mind, here are the top oil &amp; gas stocks for investors to consider scooping up for April this year.



<h2>Diamondback Energy (FANG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/diamondback_fang_stock_fang1600-300x169.jpg" alt="Diamondback Energy (FANG) logo on its website to represent oil stocks. FANG stock"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Diamondback Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/fang-stock-quote/">FANG</a>) is strongly favored by analysts, bolstered by a major acquisition that should enhance its operations in the Permian Basin.&nbsp;



For 2024, FANG has set an <a href="https://finance.yahoo.com/news/diamondback-energy-inc-fang-reports-213243465.html">oil production target</a> between 270 and 275 thousand barrels of oil per day (MBO/d), with planned cash capital expenditures ranging from $2.30 billion to $2.55 billion. The company aims to reduce its return of capital to shareholders to at least 50% of free cash flow, down from previous commitments of 75%.



Looking forward, Diamondback is <a href="https://finance.yahoo.com/news/diamondback-energy-inc-endeavor-energy-110000417.html">preparing for a merger</a> with Endeavor Energy Resources, expected to close in the fourth quarter of 2024. Post-merger, Diamondback anticipates significant operational synergies, projecting a substantial increase in production for 2025, targeting between 470 and 480 MBO/d.



In 2023, Diamondback&rsquo;s financial and operational performance included a fourth-quarter production average of 273.1 MBO/d, and full-year net income reached $960 million. This makes it one of those stocks to buy.



<h2>Shell (SHEL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/royal-dutch-shell-rds1600-300x169.jpg" alt="Shell logo on a gas station in Iceland. SHEL stock"><div>Source: JuliusKielaitis / Shutterstock.com</div></div>Shell (NYSE:<a href="https://investorplace.com/stock-quotes/shel-stock-quote/">SHEL</a>) has been upgraded to a &ldquo;strong buy&rdquo; by analysts due to favorable earnings reports and increased dividends.



Shell <a href="https://finance.yahoo.com/news/cloudy-2024-outlook-shell-190147372.html">reported adjusted earnings</a> of $6.22 billion for the third quarter last year, with total revenue reaching $78.01 billion despite a 21% decrease from the previous year due to lower commodity prices. Shell emphasized its strategy shift towards upstream investments and the generation of robust free cash flow, which stood at $7.50 billion for the quarter.



For 2024, SHEL has <a href="https://reports.shell.com/annual-report/2023/strategic-report/powering-progress-strategy/outlook-for-2024-and-beyond.html">projected a cash capital expenditure</a> of $22 to $25 billion annually, focusing on cost reductions and shareholder distributions. Specifically, Shell aims to cut structural costs by $2 to $3 billion by the end of 2025. The company also plans to distribute 30-40% of its cash flow from operations to shareholders through dividends and buybacks.



Additionally, Shell is intensifying its focus on the energy transition, committing to invest $10-15 billion in low-carbon energy solutions from 2023 to 2025 as part of its Powering Progress strategy.&nbsp;



<h2>ConocoPhillips (COP)</h2>



<a href="https://investorplace.com/wp-content/uploads/2023/03/conocophillips_logo.svg.png"><img width="300" height="70" src="https://investorplace.com/wp-content/uploads/2023/03/conocophillips_logo.svg-300x70.png" alt="ConocoPhilips Logo"></a>ConocoPhillips (NYSE:<a href="https://investorplace.com/stock-quotes/cop-stock-quote/">COP</a>) is recognized for its global oil production capabilities and has seen a 10.65% increase in its stock price year to date.



COP <a href="https://finance.yahoo.com/news/conocophillips-cop-posts-3-0-135448903.html">has set its total capital expenditure</a> guidance between $11 billion and $11.5 billion this year. The company aims to maintain its production levels, projecting an output of 1.91 to 1.95 million barrels of oil equivalent per day.



The company continues its strong <a href="https://finance.yahoo.com/news/conocophillips-cop-posts-3-0-135448903.html">focus on shareholder returns</a>, planning a capital return of $9 billion in 2024. This is consistent with their past performance, having distributed $11.0 billion to shareholders through dividends and share repurchases in the previous year.



COP pays a strong dividend, with a yield of around 3.21% at the time of writing. It then could be one of those top picks for investors looking to diversify their portfolios in the oil &amp; gas industries.



<h2>Cheniere Energy (LNG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/cheniere_energy_lng1600-300x169.jpg" alt="LNG stock: the Cheniere logo displayed on a phone"><div>Source: IgorGolovniov / Shutterstock.com</div></div>Cheniere Energy (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/lng-stock-quote/">LNG</a>) stands out as one of the largest liquefied natural gas (<a href="https://investorplace.com/stock-quotes/lng-stock-quote/">LNG</a>) exporters in the U.S. The company benefits from extensive pipeline and storage infrastructure.



For 2024, LNG has <a href="https://finance.yahoo.com/news/cheniere-energy-inc-lng-reports-125215649.html">set its financial targets</a> with a guidance range of $5.5 to $6 billion for consolidated adjusted EBITDA and $2.9 to $3.4 billion for distributable cash flow. this follows a robust financial performance in 2023, where the company achieved $8.8 billion in consolidated adjusted EBITDA and exceeded its distributable cash flow guidance with $6.5 billion.



Cheniere plans to maintain <a href="https://finance.yahoo.com/news/q4-2023-cheniere-energy-inc-061101844.html">high operational levels</a>, expecting to produce approximately 45 million tons of LNG in 2024, which includes accommodating planned maintenance. This production forecast is supported by high proportions of volumes sold.



LNG could then be one of those top oil &amp; gas stocks for investors to watch closely as the situation in the middle east unfolds.



<h2>APA Corporation (APA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/naturalgas1600c-300x169.jpg" alt="a gas pipe with the sun going down in the background, natural"><div>Source: Shutterstock</div></div>APA Corporation (NASDAQ:<a href="https://investorplace.com/stock-quotes/apa-stock-quote/">APA</a>) operates a broad network of natural gas reserves, as well as being a notable player in the oil industry. It&nbsp; has shown consistent growth in production.



The company plans to continue expanding its activities in the Permian Basin and Egypt, aiming to optimize oil production. APA expects <a href="https://www.marketscreener.com/quote/stock/APA-CORPORATION-11664/news/APA-Corporation-Provides-First-Quarter-2024-Supplemental-Information-and-Schedules-Results-Conferen-46404398/">modest oil production growth</a> in 2024, with projections indicating low-single-digit increases. This growth is primarily driven by expansions in the Permian and Egyptian operations, which offset potential declines in other areas such as the North Sea. The company&rsquo;s strategic focus remains on high-margin production areas. Financially, APA reported a strong performance for the fourth quarter of 2023, with significant free cash flow generation. This has allowed it to scale its shareholder yield to an impressive 10.30%, which includes all dividends and buybacks.



APA then represents a good mix of capital and income growth potential that investors should pay attention to.



<h2>EQT Corporation (EQT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/eqt1600-300x169.png" alt="In this photo illustration the EQT Corporation logo seen displayed on a smartphone"><div>Source: rafapress / Shutterstock.com</div></div>EQT Corporation (NYSE:<a href="https://investorplace.com/stock-quotes/eqt-stock-quote/">EQT</a>) operates extensively in the Appalachian Basin and is known for its large-scale natural gas production capabilities.



For 2024, EQT <a href="https://finance.yahoo.com/news/eqt-corp-eqt-reports-solid-215329077.html">anticipates total sales volumes</a> to range between 2,200 to 2,300 billion cubic feet equivalent (Bcfe) and plans to allocate between $1,950 million and $2,050 million for maintenance capital expenditures.&nbsp;



And last year, the <a href="https://ir.eqt.com/investor-relations/news/news-release-details/2024/EQT-Reports-Fourth-Quarter-and-Full-Year-2023-Results-and-Provides-2024-Guidance/default.aspx">company achieved a net income</a> of $1.735 billion, marginally lower than the $1.771 billion reported in 2022. These results underscored a challenging year with lowered price realizations and increased capital expenditures, which rose to $1,917 million from $1,427 million.



The company also significantly reduced its debt by retiring over $1.1 billion and enhanced its financial stability. This then puts EQT in a great position moving forward, which is one of the reasons I believe it&rsquo;s one of those top oil &amp; gas stocks for investors to consider adding to their portfolios in April.



<h2>Chevron (CVX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/cvx1600-300x169.jpg" alt="Chevron logo on blue sign in front of skyscraper building"><div>Source: Jeff Whyte / Shutterstock.com</div></div>Chevron (NYSE:<a href="https://investorplace.com/stock-quotes/cvx-stock-quote/">CVX</a>) is another Buffett-backed stock, known for its strong free cash flow and consistent dividend growth.



CVX has outlined a <a href="https://www.chevron.com/newsroom/2023/q4/chevron-announces-2024-capex-budget">substantial capital expenditure budget</a> of $16 billion, reflecting an increase from the $14 billion projected for 2023. This budget will primarily focus on upstream activities in the U.S. Additionally, Chevron anticipates a production increase of 4%-7% compared to its 2023 baseline.



In terms of environmental objectives, Chevron is committed to reducing carbon intensity and expanding its lower carbon businesses.



But what stands out to me about CVX is that its dividend growth rate is 6.76% while also paying an impressive yield of 3.95%. With buybacks included, this totals a shareholder yield of 6.32%.



CVX then offers a good mix of being backed by legendary investors, income appreciation, and the fact that its share has risen 10.57% year-to-date. It&rsquo;s a great bluechip option for investors who are uncomfortable with speculation.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/the-top-7-oil-gas-stocks-to-buy-in-april-2024/">The Top 7 Oil &amp; Gas Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 7 Oil & Gas Stocks to Buy in April 2024

Earnings week ahead: Amazon, Apple, Pfizer, AMD, Coca-Cola, Starbucks and more

Monthly Options Series: Earn A Potentially Consistent 10% Income (May 2024)

Diamondback Energy receive second FTC request in $26B Endeavor deal

Diamondback Energy receives second FTC request in $26B Endeavor deal

Diamondback Energy Non-GAAP EPS of $4.50 beats by $0.07, revenue of $2.22B beats by $110M

AGCO

AMAT

CTRA

DGRO

FSLY

FUBO

GOLD

LMND

LUMN

MRNA

NCLH

NXPI

OILK

OPEN

PARA

PCAR

PTON

QCOM

RIOT

SCHD

SHEL

SIRI

SKLZ

SOFI

SPWR

WELL

Press Releases

Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Schedules First Quarter 2024 Conference Call for May 1, 2024

Opinion

Thinking about buying stock in Diamondback Energy, Merck, High Tide, Rumble, or SNDL?

Verde Clean Fuels, Inc. Reports 2023 Results

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates TAST, FANG, VINE

Oklo Signs LOI to Supply 50 Megawatts of Power to Diamondback Energy

Financing

Diamondback Energy Prices Offering of Senior Notes

Contracts

Diamondback Energy, Inc. Receives Stockholder Approval for Proposed Transaction with Endeavor Energy Resources, L.P.

Viper Energy, Inc., a Subsidiary of Diamondback Energy, Inc., Reports First Quarter 2024 Financial and Operating Results

Dividends

Diamondback Energy, Inc. Announces First Quarter 2024 Financial and Operating Results

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Diamondback Energy Stock (NASDAQ:FANG), Short Interest Report

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