CNBC’s Jim Cramer highlights Diamondback Energy as a growth pick in oil stocks despite rising supply risks and higher yields.
Diamondback Energy (NASDAQ:FANG) has gained attention from CNBC’s Jim Cramer as oil prices reach $96 per barrel. The stock has risen 36% over the past year and 30% year-to-date, reflecting strong sector performance amid tight supply conditions linked to geopolitical tensions.
Cramer positions Diamondback as a growth-oriented choice within the oil and gas sector, alongside ConocoPhillips and Occidental Petroleum. He notes that while supply constraints have supported prices, easing supply could pose challenges for investors. His remarks underscore the stock’s appeal for those seeking exposure to energy growth.
The discussion comes as markets weigh the impact of higher yields and potential supply shifts on oil equities. Cramer also expressed bullish views on natural gas, particularly for data center demand, naming EQT as a preferred play in that segment.