The strange case of Diamondback Energy Inc.'s trailing stock performance among its peers,a point of fixation among analysts,appears to have its roots in the Permian Basin operator's slightly less aggressive framework for rewarding shareholders and its reputation as a"serial acquirer."It's not a reputation without merit.Over the years,even a cursory glance at Diamondback's acquisitions lends some credence to that view.Since 2017,the company has closed four deals valued at $1 billion or more.That includes its 2021 acquisition of QEP Resources for $2.2 billion.Its largest deal during that span was its 2018 acquisition of Energen Corp.for $9.2 billion worth of stock.
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