Diamondback Energy, Inc. (FANG) Stock

Diamondback Energy, Inc. (FANG) is a Energy stock trading at $195.53 (as of 2026-07-17), with a market capitalization of $55.01B and a trailing P/E of 16.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Diamondback Energy, Inc. is an independent oil and natural gas producer focused on acquiring, developing, exploring, and exploiting unconventional onshore resources in the Permian Basin. It concentrates on multiple Permian formations, holds acreage and working and royalty interests, and also owns and operates midstream gathering pipelines and an integrated water system in the Midland and Delaware basins.

Understand Diamondback Energy, Inc.: how it makes money

Diamondback Energy develops and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin, using acreage and drilling activity focused on the Spraberry and Wolfcamp formations (Midland basin) and the Wolfcamp and Bone Spring formations (Delaware basin) to generate revenue.

Diamondback's profit model is about converting Permian Basin acreage and formation-specific drilling activity into profitable oil and natural gas production over time.

Business quality (Mixed): The provided facts describe a focused Permian operator with formation and acreage specialization, but there are no provided operating metrics (like production or volumes) to directly track the drivers of quarter-to-quarter performance beyond reported results.

Valuation: At 187× earnings, FANG trades 988% above the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

Permian Basin formation focus: The company is specifically oriented around developing unconventional reservoirs in named Permian formations (Spraberry, Wolfcamp, and Bone Spring), which can support a repeatable development approach.
Large Permian acreage base: As of December 31, 2021, it reported approximately 524,700 gross acres in the Permian Basin, giving it a substantial land position to develop.

Bear case

Execution and reservoir performance risk: Because the business depends on acquisition, development, exploration, and exploitation of unconventional reserves, results can be affected if drilling and development do not achieve expected reservoir performance.
Concentration in a single basin: The company focuses on the Permian Basin formations in West Texas and New Mexico, so weaknesses in that region or that asset base can have an outsized impact.

Valuation — source: SEC EDGAR (first-party)
Price	$195.53
Market Cap	$55.01B
P/E Ratio	16.8
EV / EBITDA	7.5
Price / Book	1.29
Price / Sales	3.46
DCF Value (model)	$1144.97
DCF Upside vs Price	485.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$15.03B
Net Margin	11.1%
Revenue Growth (YoY)	35.8%
EPS Growth (YoY)	-63.1%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.50 (distress)

Valuation vs Sector & Industry
Stock P/E	16.8
Sector P/E (Energy)	19.4
Industry P/E (Petroleum & Natural Gas)	19.2
vs Sector	-13.2%
vs Industry	-12.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($3.66B)
Institutional Holders Tracked	10
Congressional Trades (recent)	10

Company
Sector	Energy
Industry	Petroleum & Natural Gas
CEO	Matthew Kaes Van't Hof
Employees	1,983
Country	US
IPO Date	2012-10-12

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Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.