BUZZ - Diamondback shares fall as declining oil prices dampen optimism for strong earnings expectations

November 3 - ** Shares of US shale oil producer Diamondback Energy (FANG.O) fell 1.7% to $196.30

** Oil prices fell about 1% O/R after President Trump stated that the US will end the annual provision of billions of dollars in military aid to Israel

** As Brent crude LCOc1 dropped nearly 1%, the broader S&P 500 Energy Index .SPNY fell 0.7%

** FANG raised its production forecast for the third consecutive quarter; it expects average daily production to reach about 1.015 million barrels of oil equivalent in fiscal year 2026, higher than the previous forecast of over 1 million barrels of oil equivalent

** The company reported (link) adjusted earnings per share of $5.86 for the third quarter, surpassing analysts' expectations of $5.46 — data compiled by LSEG

** Of 33 brokerages, 29 rated the stock as “buy” or higher, and 4 as “hold”; the median target price is $235 — LSEG data

** As of the previous trading session close, the stock had gained 32.9% year-to-date

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