
Diamondback Energy, Inc. (FANG), headquartered in Midland, Texas, operates as an independent oil and natural gas exploration and production company. With a market cap of $40.6 billion, the company acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
Shares of this leading independent oil and gas company have considerably underperformed the broader market over the past year. FANG has declined 28.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 16.4%. In 2025, FANG stock is down 14.4%, compared to the SPX’s 9.7% rise on a YTD basis.