Diamondback Energy (FANG)
Produces Permian oil and gas while consolidating Viper's mineral and royalty portfolio.
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Produces crude oil, natural gas liquids and natural gas through horizontal development of stacked formations in the Permian Basin. Revenue comes from upstream sales and consolidated Viper Energy royalty interests, leaving results concentrated in one region and exposed to commodity prices and regional takeaway capacity.
Develops oil-rich, unconventional reserves across the Midland and Delaware basins, using horizontal drilling to produce crude oil, natural gas liquids and natural gas. Operations center on stacked Permian formations including Spraberry, Wolfcamp, Barnett and Bone Spring, while operating control supports coordinated drilling and completion programs.
Owns and consolidates publicly traded Viper Energy, which collects mineral and royalty income from Permian properties, including wells operated by third parties. The combined business is managed as one upstream segment and remains concentrated in the Permian Basin. Revenue and drilling activity depend on oil and gas prices, while regional takeaway capacity and produced-water disposal rules can constrain realizations and operations.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Stephens | Target | Target: — | Target: $255 |
| Sep 14, 2026 | UBS | Reiterate | Rating: —Target: $243 | Target: $253 |
| Sep 2, 2026 | Seaport Global | Initiate | Rating: — | |
| Aug 19, 2026 | Morgan Stanley | Downgrade | ||
| Aug 17, 2026 | Barclays | Target | Target: $232 | Target: $221 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $462.0M · Total debt $12.61B · Total assets $70.22B · Shareholders' equity $37.90B
- Revenue
- $5.56B
- Operating income
- $2.51B
- Net income
- $1.88B
HistoryDividendAnnual yield
| Institutions | 72.38% | 202.69M shares | |
|---|---|---|---|
| 1,256 holders · as of Jun 30, 2026 | |||
| Insiders | 77.92% | 218.21M shares | |
| 21 holders · as of Sep 17, 2026 | |||
| Strategic holders | 23.20% | 64.96M shares | |
| 1 holder · as of Sep 17, 2026 | |||
| Adds to | 173.50% | ||
280.02M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 173.50%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Lyndal Stephens GrethInsider | 41.03% | 114.90M | filed Sep 13, 2024 |
Lyndal GrethInsider10 percent owner | 36.31% | 101.69M | filed Sep 24, 2024 |
SGF FANG Holdings, LPStrategic10 percent owner | 23.20% | 64.96M | filed Sep 17, 2026 |
BlackRock, Inc.Institution | 6.71% | 18.79M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 5.86% | 16.42M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 16, 2026 | SGF FANG Holdings, LP | 10 percent owner | −9,079,675 | $205.26 |
| Sep 15, 2026 | Teresa L. Dick | officer: EVP Accounting, Assist. Sec. | −5,000 | $210.00 |
| Sep 15, 2026 | Matt Zmigrosky | officer: EVP, Chief Legal and Admin Off | −1,326 | $212.56 |
| Sep 11, 2026 | Travis D. Stice | director | −75,000 | $204.31 |
| Aug 21, 2026 | Mark Lawrence Plaumann | director | −1,000 | $210.58 |
- ExxonMobil
Permian's #1 producer; Pioneer-expanded integrated scale sets the cost benchmark.
- Occidental Petroleum
Permian heavyweight with Midland + Delaware scale and CO2/EOR carbon leadership.
- ConocoPhillips
World's largest pure-play E&P; Delaware and Midland presence, Marathon-expanded.
- EOG Resources
Peer-leading Delaware well economics and ROCE; organic growth vs. M&A scaling.
- Devon Energy
Post-Coterra large-cap shale operator anchored by Delaware Basin scale.
- Permian Resources
Pure-play Delaware Basin consolidator; most direct acreage-level rival to FANG.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Diamondback Energy | $185.90 | −1.78% | $53.24B | 37.0 | 9.7 | 3.1 | +32.1% |
| ExxonMobil | $158.72 | +0.27% | $656.48B | 20.4 | 12.9 | 1.8 | +46.0% |
| Occidental Petroleum | $56.87 | −0.66% | $56.94B | 8.8 | 12.2 | 2.3 | +25.7% |
| ConocoPhillips | $125.64 | −1.49% | $155.37B | 16.9 | 12.7 | 2.5 | +39.7% |
| EOG Resources | $140.29 | −0.77% | $75.30B | 11.0 | 9.0 | 2.8 | +60.5% |
| Devon Energy | $47.12 | −0.99% | $52.35B | 11.3 | 9.3 | 2.7 | +83.2% |
| Permian Resources | $21.69 | −1.30% | $18.40B | 14.5 | 9.7 | 3.2 | +55.2% |
| Median | 12.9 | 10.9 | 2.6 | +50.6% |