Diamondback Energy, Inc. (FANG), headquartered in Midland, Texas, operates as an independent oil and natural gas company. With a market cap of $48.4 billion, the company acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
Shares of this leading independent oil and gas company have underperformed the broader market over the past year. FANG has gained 8.3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 11.8%. However, in 2026, FANG stock is up 12.5%, surpassing the SPX’s marginal fall on a YTD basis.
