Diamondback Ener (NASDAQ:FANG) traded in a range yesterday that spanned from a low of $95.71 to a high of $105.62. Yesterday, the shares gained 7.4%, which took the trading range above the 3-day high of $101.16 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Viper Energy Partners LP (NASDAQ:VNOM) ("Viper" or the "Partnership"), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) ("Diamondback"), today announced it has entered into a definitive purchase and sale agreement ("the Purchase and Sale Agreement") to acquire certain mineral and royalty interests ("the Assets") from Santa Elena Minerals, LP ("Santa Elena") for approximately 5.2 million common units representing limited partner interests in Viper ("Common Units"), subject to certain adjustments (the "Pending Acquisition"). The transaction is valued at $150 million and will have an effective date of October 1, 2019 with closing anticipated in the fourth quarter of 2019, subject to continued diligence and closing conditions.

Diamondback Ener (NASDAQ:FANG) traded in a range yesterday that spanned from a low of $95.33 to a high of $101.35. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $99.90 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.