Midland, Texas-based Diamondback Energy, Inc. (FANG) is an independent oil and gas company. With a market cap of $32.8 billion, it focuses on acquiring, developing, and exploring unconventional oil and natural gas reserves in the Permian Basin, one of the most prolific shale regions in the U.S. The company is expected to unveil its fiscal Q3 earnings results after the market closes on Monday, Nov. 4.
Before the event, analysts anticipated the oil company to report a profit of $4.14 per share, down 25.6% from $5.49 per share in the same quarter last year. However, the company has consistently surpassed Wall Street's earnings projections in the past four quarters. FANG exceeded the consensus estimate by a 1.4% margin in the last reported quarter.
