Diamondback Energy (FANG)
Market Price (7/22/2026): $199.5 | Market Cap: $56.4 BilInvestor Relations Sector: Energy | Industry: Oil & Gas Exploration & Production
Diamondback Energy (FANG)
Market Price (7/22/2026): $199.5Market Cap: $56.4 BilSector: EnergyIndustry: Oil & Gas Exploration & Production
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, CFO LTM is 8.2 Bil Attractive yieldDividend Yield is 2.1% Stock buyback supportStock Buyback 3Y Total is 4.0 Bil Low stock price volatilityVol 12M is 31% Megatrend and thematic driversMegatrends include US Energy Independence, and Energy Transition & Decarbonization. Themes include US Oilfield Technologies, and Carbon Capture & Storage. | Weak multi-year price returns2Y Excs Rtn is -31%, 3Y Excs Rtn is -2.3% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 127x, P/EPrice/Earnings or Price/(Net Income) is 199x Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.2% Key risksFANG key risks include [1] declining well productivity and rising operating costs as its high-quality acreage is depleted. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 18% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 54%, CFO LTM is 8.2 Bil |
| Attractive yieldDividend Yield is 2.1% |
| Stock buyback supportStock Buyback 3Y Total is 4.0 Bil |
| Low stock price volatilityVol 12M is 31% |
| Megatrend and thematic driversMegatrends include US Energy Independence, and Energy Transition & Decarbonization. Themes include US Oilfield Technologies, and Carbon Capture & Storage. |
| Weak multi-year price returns2Y Excs Rtn is -31%, 3Y Excs Rtn is -2.3% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 127x, P/EPrice/Earnings or Price/(Net Income) is 199x |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.2% |
| Key risksFANG key risks include [1] declining well productivity and rising operating costs as its high-quality acreage is depleted. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 7/21/2026
Diamondback Energy (FANG) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Strong Q1 2026 Financial Performance and Shareholder Returns.
Diamondback Energy reported robust financial results for fiscal Q1 2026, with earnings per share (EPS) of $4.23, surpassing analysts' consensus estimates of $3.71 by 14.02%. Revenue for the quarter also exceeded expectations, reaching $4.24 billion, a 4.7% increase year-over-year. Complementing this performance, the company raised its base cash dividend by 5% to $1.10 per share and repurchased 3.3 million shares for approximately $548 million, reinforcing its commitment to shareholder returns.
2. Increased Production Guidance and Operational Efficiency.
The company demonstrated operational strength by raising its full-year 2026 oil production guidance to over 520 thousand barrels per day (MBO/d) from a previous range of 500-510 MBO/d. Fiscal Q1 2026 cash capital expenditures of $933 million came in below the estimated $950 million, contributing to strong free cash flow generation of $1.71 billion for the quarter, 9% above consensus estimates. This focus on efficient operations and production growth provided underlying support for the stock.
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Diamondback Energy (FANG) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Strong Q1 2026 Financial Performance and Shareholder Returns.
Diamondback Energy reported robust financial results for fiscal Q1 2026, with earnings per share (EPS) of $4.23, surpassing analysts' consensus estimates of $3.71 by 14.02%. Revenue for the quarter also exceeded expectations, reaching $4.24 billion, a 4.7% increase year-over-year. Complementing this performance, the company raised its base cash dividend by 5% to $1.10 per share and repurchased 3.3 million shares for approximately $548 million, reinforcing its commitment to shareholder returns.
2. Increased Production Guidance and Operational Efficiency.
The company demonstrated operational strength by raising its full-year 2026 oil production guidance to over 520 thousand barrels per day (MBO/d) from a previous range of 500-510 MBO/d. Fiscal Q1 2026 cash capital expenditures of $933 million came in below the estimated $950 million, contributing to strong free cash flow generation of $1.71 billion for the quarter, 9% above consensus estimates. This focus on efficient operations and production growth provided underlying support for the stock.
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Updated on 7/21/2026
Diamondback Energy (FANG) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Strong Q1 2026 Financial Performance and Shareholder Returns.
Diamondback Energy reported robust financial results for fiscal Q1 2026, with earnings per share (EPS) of $4.23, surpassing analysts' consensus estimates of $3.71 by 14.02%. Revenue for the quarter also exceeded expectations, reaching $4.24 billion, a 4.7% increase year-over-year. Complementing this performance, the company raised its base cash dividend by 5% to $1.10 per share and repurchased 3.3 million shares for approximately $548 million, reinforcing its commitment to shareholder returns.
2. Increased Production Guidance and Operational Efficiency.
The company demonstrated operational strength by raising its full-year 2026 oil production guidance to over 520 thousand barrels per day (MBO/d) from a previous range of 500-510 MBO/d. Fiscal Q1 2026 cash capital expenditures of $933 million came in below the estimated $950 million, contributing to strong free cash flow generation of $1.71 billion for the quarter, 9% above consensus estimates. This focus on efficient operations and production growth provided underlying support for the stock.
3. Positive Analyst Sentiment and Price Targets.
Analyst sentiment for Diamondback Energy remained generally positive throughout the period. As of July 2026, the stock maintained an average "Buy" rating with a consensus target price of $219.53. Firms like Mizuho and UBS reiterated "Outperform" and "Buy" ratings, respectively, projecting solid fiscal Q2 2026 results and highlighting the company's operational efficiency, which helped stabilize the stock's valuation.
4. Mixed Macroeconomic Commodity Price Environment.
While West Texas Intermediate (WTI) crude oil prices generally trended higher since the start of 2026, reaching over $85 per barrel by July 22, 2026, the broader commodity price environment was mixed. Notably, natural gas prices faced headwinds, with Diamondback reporting average unhedged realized natural gas prices of negative $2.15 per Mcf for fiscal Q2 2026. The strong performance in oil was somewhat offset by the challenging natural gas market, contributing to the stock's relatively stable movement rather than a significant breakout.
5. Significant Insider Selling Activity.
Insider selling activity, particularly a substantial transaction by Director Charles A. Meloy, who sold approximately $15.59 million worth of shares on June 17, 2026, introduced some selling pressure on the stock. While the company's fundamentals remained strong, this notable insider divestment likely acted as a counter-balance to positive news, contributing to the stock's largely stable trend.
Show less
Diamondback Energy (FANG) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Strong Q1 2026 Financial Performance and Shareholder Returns.
Diamondback Energy reported robust financial results for fiscal Q1 2026, with earnings per share (EPS) of $4.23, surpassing analysts' consensus estimates of $3.71 by 14.02%. Revenue for the quarter also exceeded expectations, reaching $4.24 billion, a 4.7% increase year-over-year. Complementing this performance, the company raised its base cash dividend by 5% to $1.10 per share and repurchased 3.3 million shares for approximately $548 million, reinforcing its commitment to shareholder returns.
2. Increased Production Guidance and Operational Efficiency.
The company demonstrated operational strength by raising its full-year 2026 oil production guidance to over 520 thousand barrels per day (MBO/d) from a previous range of 500-510 MBO/d. Fiscal Q1 2026 cash capital expenditures of $933 million came in below the estimated $950 million, contributing to strong free cash flow generation of $1.71 billion for the quarter, 9% above consensus estimates. This focus on efficient operations and production growth provided underlying support for the stock.
3. Positive Analyst Sentiment and Price Targets.
Analyst sentiment for Diamondback Energy remained generally positive throughout the period. As of July 2026, the stock maintained an average "Buy" rating with a consensus target price of $219.53. Firms like Mizuho and UBS reiterated "Outperform" and "Buy" ratings, respectively, projecting solid fiscal Q2 2026 results and highlighting the company's operational efficiency, which helped stabilize the stock's valuation.
4. Mixed Macroeconomic Commodity Price Environment.
While West Texas Intermediate (WTI) crude oil prices generally trended higher since the start of 2026, reaching over $85 per barrel by July 22, 2026, the broader commodity price environment was mixed. Notably, natural gas prices faced headwinds, with Diamondback reporting average unhedged realized natural gas prices of negative $2.15 per Mcf for fiscal Q2 2026. The strong performance in oil was somewhat offset by the challenging natural gas market, contributing to the stock's relatively stable movement rather than a significant breakout.
5. Significant Insider Selling Activity.
Insider selling activity, particularly a substantial transaction by Director Charles A. Meloy, who sold approximately $15.59 million worth of shares on June 17, 2026, introduced some selling pressure on the stock. While the company's fundamentals remained strong, this notable insider divestment likely acted as a counter-balance to positive news, contributing to the stock's largely stable trend.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 1.6% change in FANG stock from 3/31/2026 to 7/21/2026 was primarily driven by a 489.0% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 196.71 | 199.80 | 1.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,929 | 15,108 | 1.2% |
| Net Income Margin (%) | 11.1% | 1.9% | -83.1% |
| P/E Multiple | 33.8 | 199.0 | 489.0% |
| Shares Outstanding (Mil) | 286 | 283 | 1.0% |
| Cumulative Contribution | 1.6% |
Market Drivers
3/31/2026 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FANG | 1.6% | |
| Market (SPY) | 15.1% | -30.9% |
| Sector (XLE) | -4.5% | 82.3% |
Fundamental Drivers
The 34.4% change in FANG stock from 12/31/2025 to 7/21/2026 was primarily driven by a 1844.8% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 148.62 | 199.80 | 34.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,284 | 15,108 | -1.2% |
| Net Income Margin (%) | 27.5% | 1.9% | -93.2% |
| P/E Multiple | 10.2 | 199.0 | 1844.8% |
| Shares Outstanding (Mil) | 289 | 283 | 2.1% |
| Cumulative Contribution | 34.4% |
Market Drivers
12/31/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FANG | 34.4% | |
| Market (SPY) | 10.0% | -21.7% |
| Sector (XLE) | 31.7% | 75.4% |
Fundamental Drivers
The 49.2% change in FANG stock from 6/30/2025 to 7/21/2026 was primarily driven by a 1938.7% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 133.94 | 199.80 | 49.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,836 | 15,108 | 17.7% |
| Net Income Margin (%) | 31.0% | 1.9% | -93.9% |
| P/E Multiple | 9.8 | 199.0 | 1938.7% |
| Shares Outstanding (Mil) | 290 | 283 | 2.4% |
| Cumulative Contribution | 49.2% |
Market Drivers
6/30/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FANG | 49.2% | |
| Market (SPY) | 22.1% | -7.0% |
| Sector (XLE) | 41.2% | 78.2% |
Fundamental Drivers
The 69.8% change in FANG stock from 6/30/2023 to 7/21/2026 was primarily driven by a 3911.7% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 117.69 | 199.80 | 69.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9,079 | 15,108 | 66.4% |
| Net Income Margin (%) | 47.6% | 1.9% | -96.0% |
| P/E Multiple | 5.0 | 199.0 | 3911.7% |
| Shares Outstanding (Mil) | 182 | 283 | -35.6% |
| Cumulative Contribution | 69.8% |
Market Drivers
6/30/2023 to 7/21/2026| Return | Correlation | |
|---|---|---|
| FANG | 69.8% | |
| Market (SPY) | 74.8% | 32.4% |
| Sector (XLE) | 57.5% | 83.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FANG Return | 128% | 35% | 20% | 10% | -6% | 31% | 404% |
| Peers Return | 109% | 46% | -7% | 7% | -11% | 28% | 245% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| FANG Win Rate | 83% | 50% | 67% | 67% | 67% | 71% | |
| Peers Win Rate | 75% | 65% | 48% | 50% | 52% | 77% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| FANG Max Drawdown | -31% | -33% | -17% | -26% | -33% | -19% | |
| Peers Max Drawdown | -22% | -33% | -29% | -24% | -31% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EOG, OKE, DVN, EPM, BSIN. See FANG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/21/2026 (YTD)
How Low Can It Go
| Event | FANG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.1% | -18.8% |
| % Gain to Breakeven | 33.4% | 23.1% |
| Time to Breakeven | 237 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.5% | -6.7% |
| % Gain to Breakeven | 18.3% | 7.1% |
| Time to Breakeven | 29 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -80.3% | -33.7% |
| % Gain to Breakeven | 406.5% | 50.9% |
| Time to Breakeven | 351 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.7% | -19.2% |
| % Gain to Breakeven | 63.1% | 23.8% |
| Time to Breakeven | 1138 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.2% | -12.2% |
| % Gain to Breakeven | 25.4% | 13.9% |
| Time to Breakeven | 17 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -39.2% | -6.8% |
| % Gain to Breakeven | 64.6% | 7.3% |
| Time to Breakeven | 501 days | 15 days |
In The Past
Diamondback Energy's stock fell -25.1% during the 2025 US Tariff Shock. Such a loss loss requires a 33.4% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | FANG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.1% | -18.8% |
| % Gain to Breakeven | 33.4% | 23.1% |
| Time to Breakeven | 237 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -80.3% | -33.7% |
| % Gain to Breakeven | 406.5% | 50.9% |
| Time to Breakeven | 351 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.7% | -19.2% |
| % Gain to Breakeven | 63.1% | 23.8% |
| Time to Breakeven | 1138 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.2% | -12.2% |
| % Gain to Breakeven | 25.4% | 13.9% |
| Time to Breakeven | 17 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -39.2% | -6.8% |
| % Gain to Breakeven | 64.6% | 7.3% |
| Time to Breakeven | 501 days | 15 days |
In The Past
Diamondback Energy's stock fell -25.1% during the 2025 US Tariff Shock. Such a loss loss requires a 33.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Diamondback Energy (FANG)
Diamondback Energy, Inc. (FANG) is an independent oil and natural gas company primarily engaged in the exploration, development, and production of crude oil and natural gas. Its core activities involve acquiring, developing, and exploiting unconventional onshore oil and natural gas reserves. The company's main products are crude oil and natural gas extracted from these reserves, which are fundamental commodities for the energy sector.
The company focuses its operations almost entirely within the Permian Basin, a highly productive oil and natural gas region located in West Texas and New Mexico. Within the Permian, Diamondback targets specific geological formations such as the Spraberry and Wolfcamp in the Midland basin, and the Wolfcamp and Bone Spring in the Delaware basin. It holds significant acreage and substantial proved oil and natural gas reserves in these areas. Additionally, Diamondback owns and operates midstream infrastructure, including crude oil and natural gas gathering pipelines and an integrated water system, which supports its production activities.
Diamondback Energy's primary customers are various participants in the energy market, including refiners who purchase crude oil for processing into fuels and other petroleum products, and natural gas processors and distributors. These entities then bring the refined products and natural gas to a broad array of industrial, commercial, and residential end-users. Essentially, Diamondback Energy serves the broader energy market by supplying essential raw materials for global energy consumption.
AI Analysis | Feedback
AI Analysis | Feedback
- Crude Oil: The company explores for, develops, and produces crude oil from its unconventional reserves in the Permian Basin for sale.
- Natural Gas: The company explores for, develops, and produces natural gas from its unconventional reserves in the Permian Basin for sale.
- Midstream Infrastructure Services: The company owns and operates gathering pipelines for crude oil and natural gas, along with an integrated water system, supporting its operations and potentially third-party activities.
AI Analysis | Feedback
Diamondback Energy (FANG) is an independent oil and natural gas company focused on exploration and production. As such, it sells its commodities (crude oil, natural gas, and natural gas liquids) primarily to other companies in the energy sector, rather than to individuals.
Based on its financial disclosures, Diamondback Energy has identified the following as major customers:
- Phillips 66 (NYSE: PSX)
- Energy Transfer LP (NYSE: ET)
AI Analysis | Feedback
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Kaes Van't Hof, Chief Executive Officer and Director
Kaes Van't Hof has served as the Chief Executive Officer and a director of Diamondback Energy since May 2025. Prior to this, he held several key positions within the company, including President (February 2025 to May 2025), President and Chief Financial Officer (February 2022 to February 2025), Chief Financial Officer and Executive Vice President of Business Development (February 2019 to February 2022), Senior Vice President of Strategy and Corporate Development (January 2017 to February 2019), and Vice President of Strategy and Corporate Development since joining Diamondback in July 2016. Before joining Diamondback, Mr. Van't Hof was the Chief Executive Officer for Bison Drilling and Field Services from September 2012 to June 2016. He also worked as an analyst for Wexford Capital, LP from August 2011 to August 2012, where he was involved in developing operating models and business plans, including for Diamondback's initial public offering. His career began at Citigroup Global Markets, Inc. in the Investment Banking - Financial Institutions Group from February 2010 to July 2011.
Jere Thompson, Executive Vice President and Chief Financial Officer
Jere Thompson serves as the Executive Vice President and Chief Financial Officer of Diamondback Energy. He was promoted to this role in February 2024, expanding his responsibilities to include investor relations and finance groups, in addition to his previous duties in business and corporate development. Before his promotion, he was the Senior Vice President of Strategy and Corporate Development. Mr. Thompson's experience also includes various roles in the energy group at Amegy Bank from June 2010 to July 2012. He holds a Bachelor of Business Administration degree in Finance and a Bachelor of Arts degree in History from the University of Texas at Austin.
Travis Stice, Executive Chairman of the Board
Travis Stice has served as the Executive Chairman of the Board of Diamondback Energy since May 2025. Prior to this, he was the Chairman of the Board since February 2022 and the Chief Executive Officer from January 2012 until May 2025. He has been a director of Diamondback since November 2012. Mr. Stice is recognized as having founded what is now Diamondback Energy, leading it from a small, private-equity-backed firm. His extensive career includes serving as President and Chief Operating Officer of Diamondback from April 2011 to January 2012. Before joining Diamondback, he was Production Manager at Apache Corporation from November 2010 to April 2011, and Vice President of Laredo Petroleum Holdings, Inc. from September 2008 to September 2010. He also held the position of Development Manager at ConocoPhillips/Burlington Resources Mid Continent Business Unit from April 2006 to August 2008, and numerous roles of increasing responsibility at Burlington Resources starting in 1990 before its acquisition by ConocoPhillips in March 2006. He began his career with Mobil Oil in 1985.
Danny Wesson, Executive Vice President and Chief Operating Officer
Danny Wesson has been the Executive Vice President and Chief Operating Officer of Diamondback Energy since February 2022. His tenure at Diamondback includes serving as Executive Vice President of Operations from March 2020 to February 2022, Senior Vice President of Operations from February 2019 to March 2020, Vice President of Operations from April 2017 to February 2019, Completions Manager from January 2013 to April 2017, and Operations Engineer since joining the company in February 2012. Before his time at Diamondback, Mr. Wesson held various operations and engineering roles at BOPCO from 2010 to 2012 and ConocoPhillips from 2007 to 2010.
Matt Zmigrosky, Executive Vice President, Chief Legal and Administrative Officer and Secretary
Matt Zmigrosky holds the position of Executive Vice President, Chief Legal and Administrative Officer and Secretary at Diamondback Energy.
AI Analysis | Feedback
The key risks to Diamondback Energy (FANG) primarily stem from the inherent volatility of the oil and natural gas industry and the specific operational and regulatory challenges within its core operating region, the Permian Basin.
- Commodity Price Volatility: As a pure-play Permian producer, Diamondback Energy's financial performance, including revenue, cash flows, and profitability, is highly sensitive to fluctuations in the prices of crude oil and natural gas. A sustained drop in these commodity prices could significantly challenge the company's ability to fund its capital programs, share buyback initiatives, and dividend payments.
- Operational and Environmental Risks in the Permian Basin: The company faces significant operational hazards inherent in drilling and production, such as the risk of oil spills and leaks, which can have severe environmental consequences and necessitate strict protocols and rapid response capabilities. A particularly growing concern in the Permian Basin is the widespread increase in underground pressure due to wastewater disposal from shale oil wells. This situation threatens crude output, the environment through potential toxic leaks and contamination of water sources, and may lead to new regulatory restrictions that could increase Diamondback Energy's costs for wastewater transportation, recycling, or purification. Additionally, the industry is facing a diminishing supply of prime drilling locations, which could impact future production growth.
- Regulatory and Policy Changes related to Energy Transition: The global shift towards a low-carbon economy and evolving environmental, social, and governance (ESG) factors pose a long-term threat. New regulations and policies aimed at reducing carbon emissions, as well as federal and state legislative initiatives concerning hydraulic fracturing, could impose additional operational costs, require substantial investments in cleaner technologies, and create uncertainties that impact the company's business and reputation.
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Diamondback Energy, Inc. (FANG) operates within the Permian Basin, focusing on crude oil and natural gas production, and also owns midstream infrastructure assets. The addressable market sizes for its main products and services in this region are substantial.
For crude oil, production in the Permian Basin is projected to reach 6.54 million barrels per day (b/d) in 2025 and is forecast to increase to 6.6 million b/d to 6.9 million b/d in 2026. This region is expected to account for over 50% of all U.S. crude oil production in 2026. In 2024, the Permian Basin contributed 48% of the total U.S. crude oil production, which averaged 13.2 million b/d. All of the growth in U.S. crude oil production since 2020 has come from the Permian Basin.
Regarding natural gas, the Permian Basin's marketed natural gas production averaged 27.7 billion cubic feet per day (Bcf/d) in 2025, representing 23% of the total U.S. marketed gas production. Forecasts indicate that marketed natural gas production in the Permian is expected to reach 25.8 Bcf/d in 2026. Looking further ahead, the Permian's dry gas output is projected to increase to approximately 40 Bcf/d by 2050.
The midstream water market in the U.S. for oil and gas is projected to total US$156 billion between 2025 and 2030, averaging over US$26 billion annually. The Permian Basin is a dominant force in this sector, expected to account for US$101.8 billion of this spending through 2030, which is nearly two-thirds of the total U.S. market value. The broader U.S. oil and gas midstream market was valued at US$17.10 billion in 2025 and is estimated to grow to US$21.08 billion by 2031, at a compound annual growth rate (CAGR) of 3.55%. Within this, crude oil transport held a 37.35% share of the U.S. oil and gas midstream market size in 2025, and LNG services are forecast to grow at a 6.28% CAGR to 2031. Midstream companies are also adding at least 2.9 Bcf/d of new natural gas processing capacity in the Permian Basin.
AI Analysis | Feedback
Diamondback Energy (FANG) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Organic Production Growth through Permian Basin Development: Diamondback Energy is shifting its focus towards organic growth by further developing its extensive acreage in the Permian Basin. The company aims for production per share growth in 2026 and anticipates increased average daily production in the coming years. This growth is supported by ongoing improvements in drilling and completion execution, including efforts to increase the average lateral lengths of wells.
- Realizing Benefits from Strategic Acquisitions: The company's recent strategic acquisitions, particularly the integration of Endeavor Energy, are expected to contribute to revenue growth. These acquisitions have significantly expanded Diamondback's asset base and operational footprint, making it one of the largest pure-play Permian producers. The integration efforts have already led to improved operational efficiency, such as reducing the number of rigs needed for drilling, and are enhancing the quality and value of its Midland Basin position.
- Enhanced Operational Efficiency and Cost Discipline: Diamondback Energy continues to emphasize technological advancements in drilling and production to boost operational efficiency and resource recovery. Management highlights ongoing improvements in drilling and completion execution, alongside efforts to lower well costs. These efficiencies contribute to stronger margins and a more predictable return path, supporting revenue growth even in varying commodity price environments.
- Exploration and Development of New Inventory (e.g., Barnett/Woodford Shales): The company is allocating capital towards the exploration and development of new intervals, such as the Barnett and Woodford shales, within its existing acreage. These zones have demonstrated higher oil productivity, and a ramp-up in drilling activity in the Barnett is anticipated, with production potentially increasing significantly by 2027. This strategy aims to replenish and grow Diamondback's long-term drilling inventory.
- Optimizing Natural Gas Marketing and Reducing Waha Exposure: Diamondback Energy is actively working to reduce its exposure to the volatile Waha natural gas pricing. By decreasing its reliance on Waha pricing from over 70% to approximately 40% by the end of 2026, the company expects to secure better prices for its natural gas and liquids. This optimization of gas marketing is anticipated to positively impact returns and, consequently, revenue in the 2027 and beyond timeframe.
AI Analysis | Feedback
Share Repurchases
- Diamondback Energy repurchased $2.0 billion in shares for the full year 2025.
- In 2024, the company's annual share buybacks totaled $959 million.
- Diamondback had a remaining share repurchase authorization of approximately $2.7 billion under its $8 billion program as of December 1, 2025.
Outbound Investments
- Diamondback completed a $26 billion merger with Endeavor Energy Resources in September 2024, which significantly expanded its acreage position in the Permian Basin.
- In the fourth quarter of 2025, Diamondback generated approximately $1.2 billion from the sales of Environmental Disposal Systems (EDS) and its interest in the EPIC Crude pipeline.
Capital Expenditures
- Diamondback Energy's cash capital expenditures for the full year 2025 were $3.5 billion.
- For 2026, the company guided cash capital expenditures to be between $3.6 billion and $3.9 billion.
- These capital expenditures for 2026 include $100 million to $150 million dedicated to exploratory development in the Barnett and Woodford formations and projects aimed at increasing oil recovery.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 67.97 |
| Mkt Cap | 41.8 |
| Rev LTM | 15,826 |
| Op Inc LTM | 3,920 |
| FCF LTM | 1,119 |
| FCF 3Y Avg | 751 |
| CFO LTM | 6,026 |
| CFO 3Y Avg | 5,742 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.5% |
| Rev Chg 3Y Avg | 8.3% |
| Rev Chg Q | -3.1% |
| QoQ Delta Rev Chg LTM | -0.8% |
| Op Inc Chg LTM | -6.5% |
| Op Inc Chg 3Y Avg | -10.9% |
| Op Mgn LTM | 17.9% |
| Op Mgn 3Y Avg | 22.3% |
| QoQ Delta Op Mgn LTM | -1.9% |
| CFO/Rev LTM | 35.7% |
| CFO/Rev 3Y Avg | 34.8% |
| FCF/Rev LTM | 0.6% |
| FCF/Rev 3Y Avg | 0.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 41.8 |
| P/S | 1.8 |
| P/Op Inc | 9.8 |
| P/EBIT | 8.4 |
| P/E | 12.9 |
| P/CFO | 7.0 |
| Total Yield | 9.9% |
| Dividend Yield | 2.5% |
| FCF Yield 3Y Avg | 4.8% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.4% |
| 3M Rtn | 7.5% |
| 6M Rtn | 30.8% |
| 12M Rtn | 30.9% |
| 3Y Rtn | 31.2% |
| 1M Excs Rtn | 8.3% |
| 3M Excs Rtn | 4.6% |
| 6M Excs Rtn | 21.9% |
| 12M Excs Rtn | 11.0% |
| 3Y Excs Rtn | -32.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Upstream | 15,026 | 11,066 | 8,344 | 9,572 | 6,747 |
| All Other | 397 | 440 | |||
| Eliminations | -329 | -369 | -371 | ||
| Midstream services | 421 | ||||
| Total | 15,026 | 11,066 | 8,412 | 9,643 | 6,797 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Upstream | 4,519 | 6,432 | 3,879 | -5,562 | 790 |
| All Other | 129 | ||||
| Eliminations | -78 | -90 | -58 | -96 | -314 |
| Midstream services | 166 | 180 | 182 | 219 | |
| Total | 4,570 | 6,508 | 4,001 | -5,476 | 695 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Upstream | 2,993 | 4,334 | 2,110 | -4,525 | 374 |
| All Other | 243 | ||||
| Eliminations | -93 | -106 | -66 | -102 | -229 |
| Midstream services | 158 | 138 | 110 | 95 | |
| Total | 3,143 | 4,386 | 2,182 | -4,517 | 240 |
| $ Mil | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Upstream | 28,362 | 24,452 | 21,329 | 16,128 | 22,125 |
| All Other | 1,242 | 2,213 | |||
| Eliminations | -603 | -456 | -373 | -318 | -230 |
| Midstream services | 1,942 | 1,809 | 1,636 | ||
| Total | 29,001 | 26,209 | 22,898 | 17,619 | 23,531 |
Price Behavior
Price Behavior
| Market Price | $199.80 | |
| Market Cap ($ Bil) | 56.5 | |
| First Trading Date | 10/12/2012 | |
| Distance from 52W High | -6.0% | |
| 50 Days | 200 Days | |
| DMA Price | $191.70 | $170.16 |
| DMA Trend | up | down |
| Distance from DMA | 4.2% | 17.4% |
| 3M | 1YR | |
| Volatility | 35.6% | 31.1% |
| Downside Capture | -93.63 | -65.50 |
| Upside Capture | -43.31 | -6.23 |
| Correlation (SPY) | -21.6% | -8.1% |
FANG Betas & Captures as of 6/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.13 | -0.33 | -0.61 | -0.46 | -0.13 | 0.70 |
| Up Beta | -1.48 | -2.11 | -1.49 | -1.32 | -0.69 | 0.76 |
| Down Beta | 1.19 | 0.96 | 1.22 | 0.89 | 0.82 | 1.35 |
| Up Capture | -30% | -70% | -53% | -26% | -6% | 12% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 9 | 19 | 33 | 67 | 130 | 400 |
| Down Capture | 63% | 17% | -75% | -131% | -84% | 51% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 12 | 22 | 30 | 58 | 122 | 350 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FANG | |
|---|---|---|---|---|
| FANG | 45.2% | 31.1% | 1.21 | - |
| Sector ETF (XLE) | 39.5% | 20.9% | 1.49 | 77.8% |
| Equity (SPY) | 20.3% | 12.6% | 1.19 | -7.9% |
| Gold (GLD) | 21.6% | 28.1% | 0.69 | -5.5% |
| Commodities (DBC) | 31.4% | 19.1% | 1.30 | 57.2% |
| Real Estate (VNQ) | 15.0% | 14.0% | 0.76 | -2.2% |
| Bitcoin (BTCUSD) | -44.6% | 42.9% | -1.25 | 5.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FANG | |
|---|---|---|---|---|
| FANG | 22.4% | 37.6% | 0.63 | - |
| Sector ETF (XLE) | 21.6% | 25.9% | 0.75 | 87.1% |
| Equity (SPY) | 12.9% | 17.1% | 0.58 | 36.9% |
| Gold (GLD) | 17.3% | 18.4% | 0.76 | 7.1% |
| Commodities (DBC) | 8.9% | 19.5% | 0.35 | 60.2% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 24.7% |
| Bitcoin (BTCUSD) | 14.9% | 53.4% | 0.46 | 15.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FANG | |
|---|---|---|---|---|
| FANG | 11.3% | 49.0% | 0.41 | - |
| Sector ETF (XLE) | 9.9% | 29.5% | 0.37 | 83.3% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 42.9% |
| Gold (GLD) | 11.2% | 16.1% | 0.57 | 2.2% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 55.3% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 32.9% |
| Bitcoin (BTCUSD) | 58.7% | 66.2% | 0.99 | 10.8% |
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Returns Analyses
Earnings Returns History
Updated 6/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | -3.5% | -8.2% | -0.9% |
| 2/23/2026 | -0.7% | 3.0% | 14.0% |
| 11/3/2025 | -1.3% | 2.4% | 13.7% |
| 8/4/2025 | -1.4% | -7.4% | -3.0% |
| 5/5/2025 | -0.8% | 7.4% | 5.4% |
| 2/24/2025 | -2.1% | -4.7% | 4.8% |
| 11/4/2024 | -2.3% | -0.4% | -4.4% |
| 8/5/2024 | 2.4% | 8.7% | 0.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 14 |
| # Negative | 10 | 8 | 10 |
| Median Positive | 2.4% | 3.3% | 9.4% |
| Median Negative | -1.8% | -3.4% | -3.7% |
| Max Positive | 6.8% | 16.9% | 47.9% |
| Max Negative | -4.8% | -8.2% | -15.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | -3.5% | -8.2% | -0.9% |
| 2/23/2026 | -0.7% | 3.0% | 14.0% |
| 11/3/2025 | -1.3% | 2.4% | 13.7% |
| 8/4/2025 | -1.4% | -7.4% | -3.0% |
| 5/5/2025 | -0.8% | 7.4% | 5.4% |
| 2/24/2025 | -2.1% | -4.7% | 4.8% |
| 11/4/2024 | -2.3% | -0.4% | -4.4% |
| 8/5/2024 | 2.4% | 8.7% | 0.7% |
| 4/30/2024 | -2.5% | 1.3% | -0.9% |
| 2/20/2024 | 0.9% | -0.1% | 10.2% |
| 11/6/2023 | -0.8% | -1.2% | -6.6% |
| 7/31/2023 | 0.4% | 0.9% | 3.2% |
| 5/1/2023 | -4.8% | -6.6% | -9.9% |
| 2/21/2023 | 2.3% | 4.7% | -2.7% |
| 11/7/2022 | 0.0% | 0.0% | -15.3% |
| 8/1/2022 | 1.3% | -2.2% | 9.0% |
| 5/2/2022 | 6.8% | 1.6% | 22.8% |
| 2/22/2022 | 1.2% | 6.9% | 11.9% |
| 11/1/2021 | 2.5% | 3.7% | -7.3% |
| 8/2/2021 | 4.9% | 0.6% | 1.1% |
| 5/4/2021 | 4.9% | 0.8% | 9.8% |
| 2/22/2021 | 3.8% | 7.7% | 6.1% |
| 11/2/2020 | 1.5% | 16.9% | 47.9% |
| 8/3/2020 | 2.6% | 11.6% | -3.0% |
| SUMMARY STATS | |||
| # Positive | 14 | 16 | 14 |
| # Negative | 10 | 8 | 10 |
| Median Positive | 2.4% | 3.3% | 9.4% |
| Median Negative | -1.8% | -3.4% | -3.7% |
| Max Positive | 6.8% | 16.9% | 47.9% |
| Max Negative | -4.8% | -8.2% | -15.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/06/2019 | 10-Q |
| 06/30/2019 | 08/09/2019 | 10-Q |
Recent Forward Guidance
Updated 7/8/2026Latest: Q1 2026 Earnings Reported 5/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Q2 2026 Oil production (MBO/d) | 515 | 520 | 525 | ||||
| Q2 2026 Q2 2026 Total production (MBOE/d) | 950 | 970 | 990 | ||||
| Q2 2026 Q2 2026 Capital expenditures | 925.00 Mil | 975.00 Mil | 1.02 Bil | 4.0% | Higher New | Actual: 937.50 Mil for Q1 2026 | |
| 2026 2026 Net production (MBOE/d) | 972 | ||||||
| 2026 2026 Oil production (MBO/d) | 520 | 3.0% | Raised | Guidance: 505 for 2026 | |||
| 2026 2026 Total capital expenditures | 3.90 Bil | 4.0% | Raised | Guidance: 3.75 Bil for 2026 | |||
Prior: Q4 2025 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Oil Production | 0.50 Mil | 0.51 Mil | 0.51 Mil | -0.6% | Lower New | Guidance: 0.51 Mil for Q4 2025 | |
| Q1 2026 Capital Expenditures | 900.00 Mil | 937.50 Mil | 975.00 Mil | 1.4% | Higher New | Guidance: 925.00 Mil for Q4 2025 | |
| 2026 Oil Production | 0.50 Mil | 0.51 Mil | 0.51 Mil | 1.7% | Higher New | Guidance: 0.50 Mil for 2025 | |
| 2026 Capital Expenditures | 3.60 Bil | 3.75 Bil | 3.90 Bil | 7.1% | Higher New | Guidance: 3.50 Bil for 2025 | |
Q3 2025 Earnings Reported 11/3/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Oil Production | 0.51 Mil | 0.51 Mil | 0.52 Mil | ||||
| Q4 2025 Capital Expenditures | 875.00 Mil | 925.00 Mil | 975.00 Mil | ||||
| 2025 Oil Production | 0.49 Mil | 0.50 Mil | 0.50 Mil | 1.6% | Raised | Guidance: 0.49 Mil for 2025 | |
| 2025 Net Production | 0.91 Mil | 0.92 Mil | 0.92 Mil | 1.7% | Raised | Guidance: 0.90 Mil for 2025 | |
| 2025 Capital Expenditures | 3.45 Bil | 3.50 Bil | 3.55 Bil | 0 | Affirmed | Guidance: 3.50 Bil for 2025 | |
Insider Activity
Updated 6/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 6172026 | 187.12 | 83,334 | 15,593,332 | 159,337,001 | Form | |
| 2 | Plaumann, Mark Lawrence | Direct | Sell | 6102026 | 196.50 | 500 | 98,250 | 2,640,370 | Form | |
| 3 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 6082026 | 205.00 | 5,000 | 1,025,000 | 16,554,775 | Form |
| 4 | Sgf, Fang Holdings, LP | Direct | Sell | 6052026 | 204.25 | 10,000,000 | 2,042,500,000 | 15,122,000,468 | Form | |
| 5 | Van'T, Hof Matthew Kaes | Chief Executive Officer | Direct | Sell | 6042026 | 208.33 | 15,000 | 3,125,000 | 27,836,250 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 6172026 | 187.12 | 83,334 | 15,593,332 | 159,337,001 | Form | |
| 2 | Plaumann, Mark Lawrence | Direct | Sell | 6102026 | 196.50 | 500 | 98,250 | 2,640,370 | Form | |
| 3 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 6082026 | 205.00 | 5,000 | 1,025,000 | 16,554,775 | Form |
| 4 | Sgf, Fang Holdings, LP | Direct | Sell | 6052026 | 204.25 | 10,000,000 | 2,042,500,000 | 15,122,000,468 | Form | |
| 5 | Van'T, Hof Matthew Kaes | Chief Executive Officer | Direct | Sell | 6042026 | 208.33 | 15,000 | 3,125,000 | 27,836,250 | Form |
| 6 | Zmigrosky, Matt | EVP, Chief Legal and Admin Off | Direct | Sell | 6042026 | 210.00 | 5,000 | 1,050,000 | 8,692,320 | Form |
| 7 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 6022026 | 200.90 | 7,000 | 1,406,301 | 17,228,188 | Form |
| 8 | Zmigrosky, Matt | EVP, Chief Legal and Admin Off | Direct | Sell | 6022026 | 200.54 | 5,000 | 1,002,700 | 9,303,456 | Form |
| 9 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 5212026 | 207.00 | 5,000 | 1,035,000 | 19,200,285 | Form |
| 10 | Barkmann, Albert | Exec. VP and Chief Engineer | Direct | Sell | 5192026 | 204.04 | 3,000 | 612,112 | 5,013,405 | Form |
| 11 | Thompson, Jere W Iii | CFO, Executive VP | Direct | Sell | 5192026 | 203.16 | 1,000 | 203,160 | 3,854,965 | Form |
| 12 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 5142026 | 200.00 | 5,000 | 1,000,000 | 19,551,000 | Form |
| 13 | Zmigrosky, Matt | EVP, Chief Legal and Admin Off | Direct | Sell | 5142026 | 200.10 | 5,000 | 1,000,500 | 10,283,544 | Form |
| 14 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 5112026 | 189.08 | 7,857 | 1,485,578 | 176,761,293 | Form | |
| 15 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 5112026 | 189.20 | 7,857 | 1,486,520 | 178,359,840 | Form | |
| 16 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 4082026 | 197.01 | 7,857 | 1,547,939 | 187,277,198 | Form | |
| 17 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 4082026 | 193.93 | 7,857 | 1,523,729 | 185,871,863 | Form | |
| 18 | Wesson, Daniel N | Exec. VP & COO | Direct | Sell | 3242026 | 191.96 | 5,000 | 959,776 | 15,027,981 | Form |
| 19 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 3242026 | 193.00 | 5,000 | 965,000 | 19,831,715 | Form |
| 20 | Thompson, Jere W Iii | CFO, Executive VP | Direct | Sell | 3172026 | 182.47 | 750 | 136,851 | 3,644,796 | Form |
| 21 | Zmigrosky, Matt | EVP, Chief Legal and Admin Off | Direct | Sell | 3172026 | 180.00 | 20,899 | 3,761,876 | 10,888,903 | Form |
| 22 | Barkmann, Albert | Exec. VP and Chief Engineer | Direct | Sell | 3172026 | 182.90 | 4,000 | 731,600 | 5,042,736 | Form |
| 23 | Sgf, Fang Holdings, LP | Direct | Sell | 3162026 | 170.19 | 12,650,000 | 2,152,888,320 | 14,302,108,873 | Form | |
| 24 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 3102026 | 185.00 | 2,500 | 462,500 | 20,859,675 | Form |
| 25 | Thompson, Jere W Iii | CFO, Executive VP | Direct | Sell | 3102026 | 181.68 | 750 | 136,260 | 3,765,318 | Form |
| 26 | Wesson, Daniel N | Exec. VP & COO | Direct | Sell | 3102026 | 181.11 | 20,000 | 3,622,127 | 15,084,167 | Form |
| 27 | Stice, Travis D | Executive Chairman | Stice Investments, Ltd. | Sell | 3102026 | 181.16 | 63,957 | 11,586,485 | 55,310,852 | Form |
| 28 | Stice, Travis D | Executive Chairman | Direct | Sell | 3102026 | 181.08 | 36,043 | 6,526,548 | 22,407,339 | Form |
| 29 | Van'T, Hof Matthew Kaes | Chief Executive Officer | Direct | Sell | 3102026 | 180.84 | 10,000 | 1,808,399 | 26,875,341 | Form |
| 30 | Dick, Teresa L | CAO, Exec. VP, Assist. Sec. | Direct | Sell | 3102026 | 181.46 | 3,000 | 544,373 | 20,913,919 | Form |
| 31 | Sgf, Fang Holdings, LP | Direct | Sell | 3052026 | 176.71 | 1,000,000 | 176,710,000 | 17,085,511,528 | Form | |
| 32 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 2042026 | 161.12 | 60,605 | 9,764,758 | 158,222,104 | Form | |
| 33 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 2042026 | 160.17 | 2,200 | 352,368 | 166,992,397 | Form | |
| 34 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 12102025 | 160.13 | 53 | 8,487 | 167,306,735 | Form | |
| 35 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 12082025 | 138.61 | 377,911 | 52,382,244 | 144,828,599 | Form | |
| 36 | Sgf, Fang Holdings, LP | Direct | Sell | 12022025 | 152.59 | 2,000,000 | 305,180,000 | 15,211,197,673 | Form | |
| 37 | Wesson, Daniel N | Exec. VP & COO | Direct | Sell | 12012025 | 149.24 | 4,000 | 596,948 | 11,956,413 | Form |
| 38 | Zmigrosky, Matt | EVP, Chief Legal and Admin Off | Direct | Sell | 11182025 | 148.18 | 3,500 | 518,630 | 9,414,474 | Form |
| 39 | Thompson, Jere W Iii | CFO, Executive VP | Direct | Sell | 11132025 | 147.73 | 1,000 | 147,730 | 1,889,173 | Form |
| 40 | Van'T, Hof Matthew Kaes | Chief Executive Officer | Direct | Sell | 11102025 | 140.61 | 10,000 | 1,406,140 | 16,770,188 | Form |
| 41 | Stice, Travis D | Executive Chairman | TBS Legacy Investments, Ltd. | Sell | 8112025 | 142.80 | 20,400 | Form | ||
| 42 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 6202025 | 155.03 | 87 | 13,487 | 167,253,589 | Form | |
| 43 | Meloy, Charles Alvin | Wolfrock Energy, LLC | Sell | 6202025 | 155.29 | 6,066 | 942,012 | 167,554,344 | Form | |
| 44 | Thompson, Jere W Iii | CFO, Executive VP | Direct | Sell | 6112025 | 141.52 | 1,500 | 212,275 | 1,951,230 | Form |
| 45 | Wesson, Daniel N | Exec. VP & COO | Direct | Sell | 6052025 | 142.06 | 5,000 | 710,306 | 11,949,770 | Form |
Investor Activity (13F)
Updated Jul 22, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Turas Capital Management LP | $39.9 Mil | 10.2% | 37 | New | 13F |
| Corigliano Investment Advisers, LLC | $24.5 Mil | 9.6% | 37 | ADD +633.1% | 13F |
| Drummond Knight Asset Management Pty Ltd | $14.8 Mil | 5.3% | 14 | New | 13F |
| Smead Capital Management, Inc. | $211.5 Mil | 4.6% | 32 | TRIM -12.9% | 13F |
| EnCap Investments L.P. | $26.3 Mil | 2.9% | 4 | New | 13F |
| Holowesko Partners Ltd. | $8.7 Mil | 2.5% | 31 | New | 13F |
| 12th Street Asset Management Company, LLC | $9.8 Mil | 1.6% | 32 | Hold | 13F |
| Sourcerock Group LLC | $35.7 Mil | 1.5% | 39 | New | 13F |
| Goehring & Rozencwajg Associates, LLC | $22.4 Mil | 1.2% | 43 | ADD +33.1% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Turas Capital Management LP | $39.9 Mil | 10.2% | 37 | New | 13F |
| Sourcerock Group LLC | $35.7 Mil | 1.5% | 39 | New | 13F |
| EnCap Investments L.P. | $26.3 Mil | 2.9% | 4 | New | 13F |
| Drummond Knight Asset Management Pty Ltd | $14.8 Mil | 5.3% | 14 | New | 13F |
| Holowesko Partners Ltd. | $8.7 Mil | 2.5% | 31 | New | 13F |
| Corigliano Investment Advisers, LLC | $24.5 Mil | 9.6% | 37 | ADD +633.1% | 13F |
| Goehring & Rozencwajg Associates, LLC | $22.4 Mil | 1.2% | 43 | ADD +33.1% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Smead Capital Management, Inc. | $211.5 Mil | 4.6% | 32 | TRIM -12.9% | 13F |
| Turas Capital Management LP | $39.9 Mil | 10.2% | 37 | New | 13F |
| Sourcerock Group LLC | $35.7 Mil | 1.5% | 39 | New | 13F |
| EnCap Investments L.P. | $26.3 Mil | 2.9% | 4 | New | 13F |
| Corigliano Investment Advisers, LLC | $24.5 Mil | 9.6% | 37 | ADD +633.1% | 13F |
| Goehring & Rozencwajg Associates, LLC | $22.4 Mil | 1.2% | 43 | ADD +33.1% | 13F |
| Drummond Knight Asset Management Pty Ltd | $14.8 Mil | 5.3% | 14 | New | 13F |
| 12th Street Asset Management Company, LLC | $9.8 Mil | 1.6% | 32 | Hold | 13F |
| Holowesko Partners Ltd. | $8.7 Mil | 2.5% | 31 | New | 13F |
Diamondback Energy — Investor Video Playlist
Leadership
Chad McAllaster on Leading Operations, Embracing AI, and Cycling 207 Miles in a Single Day
Leadership
Inside Diamondback’s Growth with COO Danny Wesson
Leadership
Jere Thompson on Strategy, Growth, and Leadership at Diamondback Energy
Leadership
Diamondback’s New Era: CEO Kaes Van’t Hof Talks Strategy & Change
Leadership
Travis Stice on Building Diamondback Energy into an Industry Leader
Industry Resources
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 7/21/2026