Diamondback Energy, Inc. (FANG), headquartered in Midland, Texas, operates in the energy sector with a market cap of $35.3 billion. It is an independent oil and gas exploration and production company primarily focused on the Permian Basin, which spans western Texas and southeastern New Mexico.
Companies worth $10 billion or more are generally described as "large-cap stocks," and Diamondback Energy fits right into that category with its market cap exceeding this threshold, reflecting its substantial size and influence in the energy sector. FANG holds a competitive edge in the upstream oil and gas industry thanks to its prime holdings in the Permian Basin, the most cost-effective source of crude oil in the United States.
