Midland, Texas-based Diamondback Energy, Inc. (FANG), with a market capitalization of approximately $56.5 billion, is an independent oil and natural gas company focused on exploring, developing, and producing hydrocarbons in the Permian Basin. It also operates crude oil and natural gas gathering infrastructure through its subsidiary, Rattler Midstream.
Shares of this leading oil and gas company have significantly outperformed the broader market over the past year. FANG has climbed 45% over this period, compared with a 20.2% gain for the broader S&P 500 Index ($SPX). The stock has continued to outperform the index in 2026, gaining 33.6%, surpassing the index’s 13.2% gain over the same period.
