Jim Cramer Discusses These 12 Stocks & Says Late Selloffs Are Deliberate

6. Diamondback Energy, Inc. (NASDAQ:FANG)

Number of Hedge Fund Holders In Q4 2024: 53

Diamondback Energy, Inc. (NASDAQ:FANG) is an American oil and gas company based in Texas. As has been the case with other energy firms, its shares have struggled recently as they are down by 14% over the past year. Like its peers, Diamondback Energy, Inc. (NASDAQ:FANG) struggled with low oil prices driving down demand and its shares last year. Cramer delved into the specifics of the firm’s share price performance:

“You know, FANG has been disparaged. We think FANG is out of favor. We’re wrong if we’re thinking about DiamondBack Energy. Because they had, maybe the greatest growth story that I have seen. Certainly better than some of the, Mag 7. These guys are the growth oil companies. They’re also, therefore it cuts both ways. But they have a lot of Permian, I was really excited about the quarter. These were really good numbers.”

“Well because they’re the most levered. So if oil goes down, they get hurt, if oil goes up, they used to be like Oxy. Remember Oxy was levered. These guys are the most levered.”