Diamondback Energy, Inc.
- Open
- 190.29
- Day high
- 192.02
- Day low
- 189.78
- Prev close
- 189.76
- Volume
- 1.5M
- Mkt cap
- $53.5B
- P/E (TTM)
- 223.7
- EPS (TTM)
- $0.85
- P/B
- 1.5
- P/S
- 3.5
- Yield
- 2.18%
- Per share
- $4.15
- ▼Insiders net selling -$2.1B over the last 3 months (0 open-market buys, 23 sales)
- 🏛Institutions mixed (13F)
Diamondback Energy, Inc. (FANG) is a Energy company listed on NASDAQ. The stock is up 35% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 23 sales (SEC Form 4).
Diamondback Energy, Inc. (FANG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FANG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $3.74 | $4.23 | +13.1% | $4.2B | +10.6% |
| Feb 23, 2026 | $2.00 | $1.74 | -13.0% | $3.4B | +2.9% |
| Apr 30, 2024 | $4.42 | $4.50 | +1.8% | $2.2B | +5.5% |
| Feb 20, 2024 | $4.66 | $4.74 | +1.7% | $2.2B | +2.2% |
| May 1, 2023 | $4.33 | $4.10 | -5.3% | $1.9B | -2.5% |
| Feb 21, 2023 | $5.22 | $5.29 | +1.3% | $2.0B | -2.4% |
| Aug 1, 2022 | $6.58 | $7.07 | +7.4% | $2.8B | +11.4% |
| May 2, 2022 | $4.52 | $5.20 | +15.0% | $2.4B | +23.4% |
| Feb 22, 2022 | $3.38 | $3.63 | +7.4% | $2.0B | +28.7% |
| Nov 1, 2021 | $2.77 | $2.94 | +6.1% | $1.9B | +30.5% |
| May 3, 2021 | $1.73 | $2.30 | +32.9% | $1.2B | +37.0% |
| Feb 22, 2021 | $0.80 | $0.82 | +2.5% | $767M | +1.0% |
FANG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 17, 2026 | Meloy Charles Alvindirector | Sell | 14,538 | $186.37 |
| Jun 17, 2026 | Meloy Charles Alvindirector | Sell | 4,049 | $187.68 |
| Jun 17, 2026 | Meloy Charles Alvindirector | Sell | 64,747 | $187.25 |
| Jun 10, 2026 | Plaumann Mark Lawrencedirector | Sell | 500 | $196.50 |
| Jun 8, 2026 | Dick Teresa L.officer: CAO, Exec. VP, Assist. Sec. | Sell | 5,000 | $205.00 |
| Jun 5, 2026 | SGF FANG Holdings, LP10 percent owner | Sell | 10,000,000 | $204.25 |
| Jun 4, 2026 | Van't Hof Matthew Kaesdirector, officer: Chief Executive Officer | Sell | 10,000 | $210.00 |
| Jun 4, 2026 | Van't Hof Matthew Kaesdirector, officer: Chief Executive Officer | Sell | 5,000 | $205.00 |
| Jun 4, 2026 | Zmigrosky Mattofficer: EVP, Chief Legal and Admin Off | Sell | 5,000 | $210.00 |
| Jun 2, 2026 | Zmigrosky Mattofficer: EVP, Chief Legal and Admin Off | Sell | 5,000 | $200.54 |
| Jun 2, 2026 | Dick Teresa L.officer: CAO, Exec. VP, Assist. Sec. | Sell | 7,000 | $200.90 |
| May 21, 2026 | Dick Teresa L.officer: CAO, Exec. VP, Assist. Sec. | Sell | 5,000 | $207.00 |
| May 21, 2026 | Meloy Charles Alvindirector | Grant | 982 | — |
| May 21, 2026 | Plaumann Mark Lawrencedirector | Grant | 982 | — |
| May 21, 2026 | Stice Travis D.director | Grant | 982 | — |
Source: FANG SEC Form 4 filings, latest Jun 17, 2026. For informational purposes only — not investment advice.
See the full FANG insider & 13F page →Diamondback Energy, Inc. company profile
Overview
Diamondback Energy, Inc. (NASDAQ:FANG) is an independent oil and natural gas exploration and production company founded in 2007 and headquartered in Midland, Texas. The company went public in 2012 and has grown to become one of the largest unconventional oil producers in the United States through strategic acquisitions and operational excellence. Diamondback focuses exclusively on developing oil and gas reserves in the Permian Basin of West Texas, one of the most prolific shale oil regions in North America. The company has built its position through a series of major acquisitions, including the recent merger with Endeavor Energy Resources, establishing itself as a leading low-cost producer with extensive acreage holdings across both the Midland and Delaware sub-basins of the Permian.
Business
Diamondback Energy operates in the unconventional oil and gas exploration and production industry, specifically focusing on shale oil extraction through hydraulic fracturing (fracking) techniques. The company's core business involves acquiring mineral rights, drilling horizontal wells, and using advanced completion techniques to extract oil and natural gas from underground rock formations. The company's operations are concentrated in the Permian Basin, a geological formation spanning West Texas and southeastern New Mexico that contains multiple oil-bearing rock layers. Diamondback primarily develops two key formations: the Spraberry and Wolfcamp formations in the Midland Basin, and the Wolfcamp and Bone Spring formations in the Delaware Basin. These formations contain what is known as "tight oil" - petroleum trapped in low-permeability rock that requires horizontal drilling and hydraulic fracturing to extract economically. As of recent reports, Diamondback controls approximately 524,700 gross acres in the Permian Basin and maintains working interests in over 5,000 producing wells. The company also owns substantial midstream infrastructure including 866 miles of crude oil gathering pipelines, natural gas gathering systems, and integrated water management facilities that support its drilling operations. Beyond traditional oil and gas production, Diamondback has diversified into mineral rights ownership, holding royalty interests in approximately 930,871 gross acres. This provides the company with additional revenue streams from other operators' drilling activities on its mineral acreage. The company is also exploring new revenue opportunities including power generation projects and potential partnerships with data center operators to monetize its natural gas resources and surface acreage.
Revenue model
Diamondback generates revenue primarily through the sale of crude oil, natural gas, and natural gas liquids produced from its wells. The company sells these commodities at prevailing market prices, with crude oil typically representing 70-80% of total production volumes and an even higher percentage of revenues due to oil's higher per-unit value compared to natural gas. The company's customers include oil refineries, petrochemical companies, and commodity trading firms who purchase the raw hydrocarbons for processing or resale. Diamondback has marketing agreements and pipeline commitments that help ensure reliable offtake for its production. The business model is heavily influenced by commodity price volatility. Higher oil and gas prices directly increase revenues and margins, while lower prices can quickly impact profitability. The company typically maintains some price hedging positions to provide downside protection. Service costs represent another major margin driver - expenses for drilling rigs, fracking crews, and oilfield services can fluctuate significantly based on industry activity levels and equipment availability. Operational efficiency improvements have become increasingly important for margin expansion. Diamondback has focused on reducing drilling and completion costs through longer lateral wells, simultaneous fracturing operations (simul-fracs), and improved well spacing. The company has achieved drilling costs of approximately $600 per lateral foot and can now drill 26 wells per rig annually. Capital discipline directly impacts returns, as the company must balance growth investments with shareholder returns. Diamondback has committed to returning at least 50% of free cash flow to shareholders through dividends and share buybacks, while maintaining production levels rather than pursuing aggressive growth that would require higher capital expenditures.
Competitive moat
Diamondback's competitive moat is moderately strong but not insurmountable, built primarily on its extensive high-quality acreage position and operational scale advantages in the Permian Basin. The company's 524,700 gross acres provide decades of drilling inventory, and its focus on the most prolific areas of the Permian gives it access to some of the lowest-cost, highest-return drilling opportunities in North America. The company benefits from economies of scale in both drilling operations and midstream infrastructure. Its integrated approach - owning gathering pipelines, water systems, and processing facilities - reduces per-unit costs and provides operational flexibility that smaller competitors lack. The ability to develop large multi-zone pads with 20+ wells reduces infrastructure costs per well and improves capital efficiency. Operational expertise and technology provide additional advantages. Diamondback has developed proprietary techniques for well spacing, completion designs, and drilling efficiency that have consistently delivered above-average well productivity. The company's technical team has deep knowledge of local geology and optimal development practices. However, the moat faces several challenges. The fundamental commodity nature of oil and gas means that all producers are price-takers with limited pricing power. Technology and techniques used in shale drilling tend to diffuse quickly across the industry, eroding competitive advantages over time. Large integrated oil companies and well-capitalized independents can potentially outbid Diamondback for attractive acquisition targets, and new entrants with access to capital can still compete effectively. The company's geographic concentration in the Permian, while providing operational focus, also creates vulnerability to regional infrastructure constraints, regulatory changes, or geological surprises that could affect the entire basin.
Risks & safety
Diamondback demonstrates a strong financial position with moderate leverage and substantial cash generation capability, though working capital management requires attention. **Liquidity and Solvency:** - Cash and short-term investments of $1.8 billion as of Q1 2025, up significantly from $161 million in Q4 2024 - Current ratio of 0.86, indicating tight working capital management but adequate for operational needs - Debt-to-equity ratio of 0.36, representing moderate leverage levels - Strong cash flow from operations of $2.4 billion in Q1 2025 demonstrates consistent cash generation **Valuation Metrics:** - Price-to-earnings ratio of 8.2x, indicating potentially attractive valuation relative to earnings - EV/EBITDA of 4.8x, suggesting reasonable valuation relative to cash flow generation - Free cash flow yield of approximately 12-13% at current oil prices, providing substantial cash returns **Other Considerations:** - Cyclical commodity exposure creates earnings volatility risk - Capital-intensive business model requires ongoing investment to maintain production - Strong operational track record with consistent cost reduction achievements - Committed shareholder return policy provides downside support for equity value
Recent development
Over the past several years, Diamondback has undergone significant strategic transformation focused on consolidation, operational efficiency, and capital discipline. The most significant development was the completion of the Endeavor Energy Resources merger, which management describes as potentially "the last meaningful asset acquisition in the Permian Basin." This transaction substantially increased Diamondback's scale and acreage position while providing operational synergies. The company has dramatically improved operational efficiency metrics, increasing drilling speed from 24 to 26 wells per rig annually and achieving over 100 completions per simul-frac crew per year. Well costs have been reduced to approximately $600 per lateral foot through technological improvements including clear fluid drilling and expanded simultaneous fracturing operations. Capital allocation strategy has evolved toward prioritizing shareholder returns over growth. Diamondback has committed to returning at least 50% of free cash flow to shareholders and has suspended variable dividends in favor of share buybacks during periods of attractive valuations. The company reduced its rig count from 14 to 10 while maintaining production guidance, demonstrating improved capital efficiency. Diversification initiatives represent a newer strategic focus, with the company exploring power generation opportunities through potential hyperscale data center partnerships and investigating ways to monetize natural gas production beyond traditional sales. The company is also evaluating opportunities to create value from its extensive mineral rights holdings and midstream assets. Recent quarters have shown a shift toward defensive positioning in response to challenging oil price environments, with management reducing capital expenditures by $400 million and decreasing from 5 to 4 frac crews while preserving high-quality drilling inventory for future development when oil prices improve.
FANG company profile · for informational purposes only — not investment advice.
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