Diamondback Energy
Produces Permian oil and gas while consolidating Viper's mineral and royalty portfolio.
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Profile
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
Key statistics
Year to date +29.8% · Average volume (30d) 1.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 19, 2026 | Morgan Stanley | Downgrade | Overweight | Equal-Weight | ||
| Aug 17, 2026 | Barclays | Target | $232 | $221 | ||
| Aug 9, 2026 | Jefferies | Reiterate | Hold | $173 | $205 | |
| Aug 5, 2026 | Truist Financial | Target | $220 | $224 | ||
| Aug 4, 2026 | Wells Fargo | Target | $212 | $237 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $6.08 | $6.48 | +6.6% | $4.89B | $4.82B | −1.3% | −3.46% |
| May 4, 2026Q1 FY26 | $3.74 | $4.23 | +13.1% | $3.83B | $4.24B | +10.6% | −3.51% |
| Feb 23, 2026Q4 FY25 | $2.00 | $1.74 | −13.0% | $3.28B | $3.03B | −7.5% | −0.75% |
| Nov 3, 2025Q3 FY25 | $2.94 | $3.08 | +4.8% | $3.53B | $3.92B | +11.2% | −1.31% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.03B | $3.65B | $3.92B | $3.38B | $4.24B | $5.56B | |
| Gross profit | $1.81B | $1.26B | $1.36B | $820.0M | $2.91B | $2.51B | |
| Operating income | $1.67B | $1.14B | $1.24B | $870.0M | $116.0M | $2.51B | |
| Net income | $1.41B | $699.0M | $1.02B | −$1.46B | $144.0M | $1.88B | |
| Diluted EPS | $4.83 | $2.38 | $3.50 | −$5.11 | $0.08 | $6.65 | |
| Gross margin | 45.0% | 34.6% | 34.6% | 24.3% | 68.7% | 45.2% | |
| Operating margin | 41.5% | 31.2% | 31.5% | 25.8% | 2.7% | 45.2% |
Fiscal years (4-quarter sums)FY21 $6.80B · FY22 $9.64B · FY23 $8.40B · FY24 $11.02B · FY25 $14.98B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $462.0M · Total debt $12.61B · Total assets $70.22B · Shareholders' equity $37.90B
Dividends
Raised for 3 straight years — most recently to $1.10 from $1.05 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 13, 2026 | Aug 13 | Aug 20 | $1.10 | |
| May 14, 2026 | May 14 | May 21 | $1.10 | raised from $1.05 |
| Mar 5, 2026 | Mar 5 | Mar 12 | $1.05 | raised from $1.00 |
| Nov 13, 2025 | Nov 13 | Nov 20 | $1.00 | |
| Aug 14, 2025 | Aug 14 | Aug 21 | $1.00 | |
| May 15, 2025 | May 15 | May 22 | $1.00 | |
| Mar 6, 2025 | Mar 6 | Mar 13 | $1.00 | raised from $0.90 |
| Nov 14, 2024 | Nov 14 | Nov 21 | $0.90 | raised from $0.84 |
Ownership
Shares outstanding 281.31M · Float 205.37M · 73.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Lyndal Stephens Greth | 114.90M | 38.90% | 13D | Sep 13, 2024 |
| SGF FANG Holdings, LP · 10 percent owner | 74.04M | 26.32% | Form 4 | Jun 5, 2026 |
| BlackRock, Inc. | 18.79M | 6.68% | 13F | Aug 7, 2026 |
| Wellington Management Group LLP | 16.42M | 5.80% | 13G | Aug 13, 2026 |
| Vanguard Capital Management LLC | 12.78M | 4.54% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Mark Lawrence Plaumann | director | −1,000 | $210.58 |
| Aug 20, 2026 | Daniel N. Wesson | officer: Exec. VP & COO | −7,500 | $215.21 |
| Aug 20, 2026 | Hof Matthew Kaes Van't | director, officer: Chief Executive Officer | −10,000 | $214.66 |
| Aug 14, 2026 | Jere W. III Thompson | officer: CFO, Executive VP | −500 | $204.14 |
| Aug 14, 2026 | Matt Zmigrosky | officer: EVP, Chief Legal and Admin Off | −2,500 | $202.77 |
Peers
- 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.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Diamondback Energy | $197.67 | −0.03% | $55.61B | 38.6 | 10.7 | 3.3 | +32.1% |
| ExxonMobil | $156.80 | +0.08% | $649.44B | 20.2 | 13.2 | 1.8 | +46.0% |
| Occidental Petroleum | $59.23 | +0.23% | $58.78B | 9.1 | 13.2 | 2.3 | +27.7% |
| ConocoPhillips | $129.95 | −0.32% | $158.80B | 17.3 | 13.4 | 2.5 | +39.7% |
| EOG Resources | $143.49 | +0.12% | $76.35B | 11.2 | 9.5 | 2.9 | +60.5% |
| Devon Energy | $47.48 | +0.26% | $52.09B | 11.2 | 9.5 | 2.6 | +83.2% |
| Permian Resources | $22.86 | +0.82% | $19.01B | 15.0 | 10.3 | 3.3 | +55.2% |
| Median | 13.1 | 11.7 | 2.6 | +50.6% |