Diamondback Energy, Inc. (FANG) SEC Filings & Earnings Calls
EquiReason read 35 Diamondback Energy, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-10-08 — Diamondback Energy reports Q3 2026 realized prices: oil $87.30/bbl, gas $1.12/Mcf, NGLs $20.02/bbl; derivative net loss $182M; shares outstanding 279,959k. No guidance or material .
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 57.6B
- P/E TTM
- 39.1
- Dividend yield
- 2.0%
- 52-week
- —
- Next earnings
- 2 Nov, in 9 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
8 Oct 20268-K · 2.02Diamondback Energy reports Q3 2026 realized prices: oil $87.30/bbl, gas $1.12/Mcf, NGLs $20.02/bbl; derivative net loss $182M; shares outstanding 279,959k. No guidance or material change.earningsopen
Figures in the filing · each found in the filing text
| Realized oil price (unhedged) · Q3-2026 | $87.30 | |
| Realized natural gas price (unhedged) · Q3-2026 | $1.12 | |
| Realized NGL price (unhedged) · Q3-2026 | $20.02 | |
| Derivative net loss · Q3-2026 | $182M | |
| Basic weighted average shares outstanding · Q3-2026 | 279,959,000 |
Risks flagged
Derivative net loss of $182M indicates hedging costs; commodity price volatility remains a risk.
“Gain (loss) on derivative instruments, net: Commodity contracts $ (182)” · word for word
30 Sep 20268-K · 1.01, 5.02Amendment to Stockholders Agreement adjusts board designation rights based on Stephens Stockholders' ownership threshold (10%-25%), with two director resignations tied to Board Stepdown.open
Risks flagged
Potential governance shift if Stephens ownership changes; no immediate financial impact.
“Board designation rights tied to ownership thresholds; resignations not due to disagreement.”
17 Sep 2026SC 13D/AActivist investor SGF FANG Holdings sold 9,079,675 shares of Diamondback Energy, reducing its beneficial ownership to 23.2% and entering a 30-day lock-up.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percentage · 2026-09-16 | 23.2% | |
| Shares Beneficially Owned · 2026-09-16 | 64,957,047 |
Risks flagged
Activist exit risk
“SGF FANG sold 9,079,675 shares, reducing its stake and entering a lock-up period, indicating potential reduction in activist pressure.”
3 Sep 2026SC 13D/ADiamondback Energy closed a Purchase Agreement, increasing its beneficial ownership in Viper Energy to 42.9%.open
Figures in the filing · each found in the filing text
| Beneficial Ownership Percentage · 2026-09-01 | 42.9% |
3 Sep 2026SC 13D/ADiamondback Energy and its subsidiaries closed a Purchase Agreement, acquiring 3,815,459 OpCo units and equivalent Class B shares of Viper Energy, increasing their stake.being acquiredopen
Figures in the filing · each found in the filing text
| Beneficial ownership (Diamondback Energy) · 2026-09-01 | 145,972,177 | |
| Percent of class (Diamondback Energy) · 2026-09-01 | 42.9% | |
| Beneficial ownership (Endeavor Energy Resources) · 2026-09-01 | 70,633,640 | |
| Percent of class (Endeavor Energy Resources) · 2026-09-01 | 26.7% |
5 Aug 202610-QRecord production and strong sequential revenue growth driven by higher oil prices and volume.earningsopen
Figures in the filing · each found in the filing text
| Average daily combined volumes · Q2-2026 | 1,017,659 | |
| Average oil price ($ per Bbl) · Q2-2026 | $96.82 | |
| Total oil, natural gas and natural gas liquid revenues · Q2-2026 | $4.79B | |
| Net income · Q2-2026 | $1.90B | |
| Cash capital expenditures, excluding acquisitions · Q2-2026 | $996M | |
| Lease operating expenses per BOE · Q2-2026 | $5.96 | |
| Cash general and administrative expenses per BOE · Q2-2026 | $0.52 | |
| Production and ad valorem taxes per BOE · Q2-2026 | $3.26 | |
| Gathering, processing and transportation expense per BOE · Q2-2026 | $1.22 | |
| Depletion rate per BOE · Q2-2026 | $13.41 |
Guidance
annual production guidance increased by 3% to approximately 1,000 MBOE/d
Raised annual production guidance by 3% to ~1,000 MBOE/d, citing global oil supply constraints and operational efficiencies.
Risks flagged
Natural gas basis differential risk
“natural gas price realizations were adversely affected by widening basis differentials between natural gas prices at Waha Hub and prices at Henry Hub.” · word for word
Ceiling test impairment risk
“If the trailing 12-month commodity prices fall as compared to the commodity prices used in the current quarter, we may have material write-downs in subsequent quarters.” · word for word
Debt maturity concentration
“At June 30, 2026, we had approximately $1.5 billion of senior notes maturing in the next 12 months.” · word for word
3 Aug 20268-K · 2.02Average oil production 525; Total production 1,018; Net cash provided by operating activities $3.60B; Guidance: FY2026 oil production guidance raised to 522+ MBO/d (from 520+); total BOE to 1,000+ MBOE/d (from 972+); capex unchanged at ~$3.earningsopen
Figures in the filing · each found in the filing text
| Average oil production · oil · Q2-2026 | 525 | |
| Total production · total · Q2-2026 | 1,018 | |
| Net cash provided by operating activities · Q2-2026 | $3.60B | |
| Cash capital expenditures · Q2-2026 | $996M | |
| Realized oil price · oil · Q2-2026 | $96.82 |
Guidance
FY2026 oil production guidance raised to 522+ MBO/d (from 520+); total BOE to 1,000+ MBOE/d (from 972+); capex unchanged at ~$3.9B
Raised production guidance with unchanged capex; strong cash flow generation and debt reduction
Risks flagged
Exposure to oil price volatility; realized price of $96.82/bbl is elevated
“Realized oil price of $96.82/bbl in Q2 2026 vs $63.23/bbl in Q2 2025; any decline could impact cash flows”
Negative natural gas prices in Q2 2026
“Natural gas realized price of ($2.15)/Mcf in Q2 2026”
13 Jul 20268-K · 2.02Diamondback Energy reports Q2 2026 realized prices: oil $96.82/bbl unhedged, $94.33 hedged; natural gas $(2.15)/Mcf unhedged; NGLs $18.56/bbl. Net cash settlement gain on derivatives $113M, non-cash loss $64M. Weighted average shares 281,20earningsopen
Figures in the filing · each found in the filing text
| Average realized oil price (unhedged) · Q2-2026 | $96.82 | |
| Average realized natural gas price (unhedged) · Q2-2026 | $-2.15 | |
| Average realized NGL price (unhedged) · Q2-2026 | $18.56 | |
| Average realized oil price (hedged) · Q2-2026 | $94.33 | |
| Average realized natural gas price (hedged) · Q2-2026 | $-0.34 | |
| Average realized NGL price (hedged) · Q2-2026 | $18.56 | |
| Net cash received on derivative settlements · Q2-2026 | $113M | |
| Net non-cash loss on derivative instruments · Q2-2026 | $64M | |
| Weighted average basic shares outstanding · Q2-2026 | 281,202,000 | |
| Weighted average diluted shares outstanding · Q2-2026 | 281,202,000 |
Risks flagged
Negative natural gas prices indicate regional oversupply and basis weakness.
“Natural gas realized price $(2.15)/Mcf unhedged.”
5 Jun 2026SC 13D/ASGF FANG Holdings sold 10 million shares of Diamondback Energy at $204.25, reducing its stake from 26.3% to approximately 22.7%.open
Risks flagged
Large holder reduces stake
“SGF FANG sold an aggregate of 10,000,000 shares of Common Stock at a price of $204.25 per share” · word for word
5 Jun 2026SC 13D/ASGF FANG Holdings sold 10 million shares of Diamondback Energy at $204.25, reducing its stake from 26.3% to approximately 22.7%.open
Risks flagged
Large holder reduces stake
“SGF FANG sold an aggregate of 10,000,000 shares of Common Stock at a price of $204.25 per share” · word for word
6 May 202610-QDiamondback Energy reported Q1 2026 net income of $25M (after $1.4B impairment), with strong production growth and increased capital budget.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $4.24B | +5% y/y |
| Net Income · Q1-2026 | $144M | -90% y/y |
| Operating Cash Flow · Q1-2026 | $1.83B | -22% y/y |
| Production · Q1-2026 | 979,356 | +15% y/y |
| Operating Rigs · 2026-03-31 | 16 |
Guidance
2026 capital budget increased by 4% to ~$3.90B; production guidance raised by 3% to ~972 MBOE/d
Company raised production and capex guidance, citing improved oil prices and a decision to work down DUC inventory.
Risks flagged
Commodity Price Volatility
“If the future trailing 12-month commodity prices decline as compared to the commodity prices used in prior quarters, the Company may have material write downs in subsequent quarters.” · word for word
Ceiling Test Impairment Risk
“The Company recorded a non-cash ceiling test impairment of $1.4 billion during the three months ended March 31, 2026.” · word for word
Concentration Risk
“The Company is managed on a consolidated basis as one operating segment and one reportable segment, the upstream segment, which is engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas.” · word for word
4 May 20268-K · 2.02Average oil production 521,000; Net cash provided by operating activities $1.80B; Cash capital expenditures $933M; Guidance: Oil production guidance raised to 520+ MBO/d from 500-510 MBO/d; capex raised to ~$3.90B from ~$3.75Bearningsopen
Figures in the filing · each found in the filing text
| Average oil production · Q1-2026 | $521000.00 | |
| Net cash provided by operating activities · Q1-2026 | $1.80B | |
| Cash capital expenditures · Q1-2026 | $933M | |
| Free Cash Flow · Q1-2026 | $1.70B | |
| Adjusted Free Cash Flow · Q1-2026 | $1.70B | |
| Share repurchases · Q1-2026 | $548M | |
| Base cash dividend per share · Q1-2026 | $1.10 | +10% y/y |
| Total return of capital · Q1-2026 | $859M | |
| Adjusted net income · Q1-2026 | $1.20B | |
| Adjusted EBITDA · Q1-2026 | $3.00B |
Guidance
Oil production guidance raised to 520+ MBO/d from 500-510 MBO/d; capex raised to ~$3.90B from ~$3.75B
Raised annual oil production guidance to 520+ MBO/d (from 500-510) and total BOE to 972+ MBOE/d, with capex increased to ~$3.90B.
Risks flagged
Commodity price volatility risk
“Realized oil price of $73.47/bbl in Q1 2026 vs $58.00 in Q4 2025 shows price sensitivity”
13 Apr 20268-K · 2.02Diamondback Energy reports Q1 2026 realized prices and derivative gains; net cash settlement gain of $133M, non-cash loss of $16M.earningsopen
Figures in the filing · each found in the filing text
| Average realized price - oil (unhedged) · Q1-2026 | $73.47 | |
| Average realized price - natural gas (unhedged) · Q1-2026 | $0.18 | |
| Average realized price - NGLs (unhedged) · Q1-2026 | $16.68 | |
| Average realized price - oil (hedged) · Q1-2026 | $72.53 | |
| Average realized price - natural gas (hedged) · Q1-2026 | $1.90 | |
| Average realized price - NGLs (hedged) · Q1-2026 | $16.68 | |
| Net cash received on settlements - commodity contracts · Q1-2026 | $160M | |
| Net cash received on settlements - interest rate swaps · Q1-2026 | $-27M | |
| Net gain on cash settlements for derivative instruments · Q1-2026 | $133M | |
| Non-cash loss on derivative instruments · Q1-2026 | $16M |
Risks flagged
Low natural gas realized price ($0.18/Mcf unhedged) indicates weak gas market conditions; hedging provides significant uplift to $1.90/Mcf.
“First quarter 2026 average unhedged realized prices were $0.18 per Mcf of natural gas”
9 Apr 2026DEF 14AProxy statement filed for annual shareholder meeting; no material event.open
Figures in the filing · each found in the filing text
| Net cash provided by operating activities · FY2025 | $8.80B | |
| Free Cash Flow · FY2025 | $5.50B | |
| Adjusted Free Cash Flow returned to stockholders · FY2025 | 54.0% | |
| Shares repurchased · FY2025 | 13,840,000 | |
| Annual base dividend per share · FY2026 | $4.20 | +5% y/y |
| Net income · FY2025 | $1.55B | |
| Return on Average Capital Employed (ROACE) · FY2025 | 8.1% | |
| Total Shareholder Return (TSR) · FY2025 | $383.98 |
23 Mar 2026SC 13D/AParent Diamondback Energy sold 510,071 shares of Viper Energy in partial overallotment exerciseopen
Figures in the filing · each found in the filing text
| Beneficial ownership percentage (Diamondback Energy) · 2026-03-19 | 42.3% |
Risks flagged
Parent company selling / ownership dilution
“On March 19, 2026, the Underwriters partially exercised their overallotment option and elected to purchase an additional 510,071 shares of Class A Common Stock from Diamondback at a price of $45.69 per share.” · word for word
23 Mar 2026SC 13D/AParent Diamondback Energy sold 510,071 shares of Viper Energy in partial overallotment exerciseopen
Figures in the filing · each found in the filing text
| Beneficial ownership percentage (Diamondback Energy) · 2026-03-19 | 42.3% |
Risks flagged
Parent company selling / ownership dilution
“On March 19, 2026, the Underwriters partially exercised their overallotment option and elected to purchase an additional 510,071 shares of Class A Common Stock from Diamondback at a price of $45.69 per share.” · word for word
16 Mar 2026SC 13D/ASGF FANG Holdings sold 12,650,000 shares of Diamondback Energy in a secondary offering, reducing its stake to 29.9% and entering a 60-day lock-up.open
Risks flagged
Large shareholder selling pressure
“SGF FANG sold 12,650,000 shares in a secondary offering, reducing its stake to 29.9%.”
16 Mar 2026SC 13D/ASGF FANG Holdings sold 12,650,000 shares of Diamondback Energy in a secondary offering, reducing its stake to 29.9% and entering a 60-day lock-up.open
Risks flagged
Large shareholder selling pressure
“SGF FANG sold 12,650,000 shares in a secondary offering, reducing its stake to 29.9%.”
12 Mar 20268-K · 1.01, 8.01Secondary offering of 12,650,000 shares by selling stockholder; company receives no proceeds. Underwriting agreement with Evercore, Citigroup, J.P. Morgan.open
Risks flagged
Secondary offering increases public float but may signal selling stockholder's desire to monetize
“Selling Stockholder agreed to sell to the Underwriters shares of the Company's common stock” · word for word
25 Feb 202610-KCash Capital Expenditures $3.50B; Proved Reserves 3,617,856,000; Operated Horizontal Wells Drilled 463; Guidance: 2026 cash capex guided $3.6B-$3.9B; 2025 actual $3.5Bopen
Figures in the filing · each found in the filing text
| Cash Capital Expenditures · FY2025 | $3.50B | |
| Proved Reserves · 2025-12-31 | $3.62B | |
| Operated Horizontal Wells Drilled · FY2025 | 463 | |
| Identified Drilling Locations · 2025-12-31 | 8,854 | |
| Net Debt Target · FY2025 | $10.00B | |
| Non-Core Asset Divestitures · FY2025 | $1.70B | |
| Double Eagle Acquisition Consideration · 2025-04-01 | $3.10B | |
| Viper Sitio Acquisition Value · 2025-08-19 | $4.00B | |
| Viper Ownership · 2025-12-31 | 42.0% | |
| Operating Rigs · 2025-12-31 | 15 |
Guidance
2026 cash capex guided $3.6B-$3.9B; 2025 actual $3.5B
2026 capex guidance slightly above 2025 actual, reflecting continued investment. Capital return program targets at least 50% of Adjusted Free Cash Flow. Net debt target $10B.
Risks flagged
Commodity Price Volatility
“geopolitics and market conditions, including changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities” · word for word
Water Disposal Restrictions
“restrictions on the use of water, including limits on the use of produced water and a moratorium on new produced water disposal well permits recently imposed by the Texas Railroad Commission in an effort to control induced seismicity in the Permian Basin” · word for word
Integration Risk from Acquisitions
“failure to identify, complete and successfully integrate acquisitions, including the recently completed Double Eagle Acquisition and Viper's Sitio Acquisition” · word for word
Regulatory and Climate Risk
“federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations” · word for word
23 Feb 20268-K · 2.02Guidance: FY2026 oil production 500-510 MBO/d, capex $3.6-3.9Bearningsopen
Guidance
FY2026 oil production 500-510 MBO/d, capex $3.6-3.9B
Guidance implies stable production with increased capex for exploration
Risks flagged
Realized oil price declined to $58.00/bbl in Q4 2025 from $69.48/bbl in Q4 2024
“Oil ($ per Bbl) $58.00 vs $69.48 prior year”
12 Jan 20268-K · 2.02Q4 2025 preliminary operating data: unhedged oil $58.00/bbl, gas $0.03/Mcf, NGL $13.51/bbl; hedged oil $57.07/bbl; net cash gain on derivatives $73M; basic shares 285.8M. No P&L or guidance.earningsopen
Figures in the filing · each found in the filing text
| Average unhedged realized oil price · Q4-2025 | $58.00 | |
| Average unhedged realized natural gas price · Q4-2025 | $0.03 | |
| Average unhedged realized NGL price · Q4-2025 | $13.51 | |
| Average hedged realized oil price · Q4-2025 | $57.07 | |
| Average hedged realized natural gas price · Q4-2025 | $1.03 | |
| Net cash received on derivative settlements · Q4-2025 | $73M | |
| Basic weighted average shares outstanding · Q4-2025 | 285,789,000 |
Risks flagged
Low natural gas realized price ($0.03/Mcf) indicates weak gas market conditions.
“Average unhedged realized natural gas price of $0.03 per Mcf.”
1 Dec 20258-K · 8.01Shares repurchased 2,886,280; total cost of repurchases $432M; remaining share repurchase authorization $2.70Bopen
Figures in the filing · each found in the filing text
| shares repurchased · Q4-2025 | 2,886,280 | |
| total cost of repurchases · Q4-2025 | $432M | |
| remaining share repurchase authorization · Q4-2025 | $2.70B |
Risks flagged
Large buyback reduces equity base but may signal limited internal investment opportunities
“Aggressive buyback pace; $2.7B remaining authorization”
5 Nov 202510-QDiamondback Energy reported strong Q3 2025 results with revenue and net income significantly up YoY, driven by higher production and prices from recent acquisitions.earningsopen
Figures in the filing · each found in the filing text
| Oil sales · Q3-2025 | $2.99B | +39% y/y |
| Natural gas sales · Q3-2025 | $87M | |
| Natural gas liquid sales · Q3-2025 | $366M | +74% y/y |
| Net income · Q3-2025 | $1.08B | +53% y/y |
| Operating cash flow · 9M-2025 | $6.42B | +58% y/y |
Risks flagged
Commodity price volatility
“conflicts in the Middle East and globally, higher interest rates, effects of tariffs, actions taken by OPEC and its non-OPEC allies, known collectively as OPEC+, global supply chain disruptions, measures to combat persistent inflation and instability in the financial sector have contributed to recent economic and pricing volatility.” · word for word
Integration risk from acquisitions
“The Company completed the Double Eagle Acquisition on April 1, 2025 and the Sitio Acquisition on August 19, 2025.”
Debt leverage
“Long-term debt $15,848 million at September 30, 2025 vs $12,075 million at December 31, 2024.”
3 Nov 20258-K · 2.02Average oil production 503,800; Average total production 942,900; Net cash provided by operating activities $2.40B; Guidance: Oil production guidance raised to 495-498 MBO/d (midpoint +3 MBO/d); BOE guidance raised to 910-920 MBOE/d; capexearningsopen
Figures in the filing · each found in the filing text
| Average oil production · Q3-2025 | 503,800 | |
| Average total production · Q3-2025 | 942,900 | |
| Net cash provided by operating activities · Q3-2025 | $2.40B | |
| Cash capital expenditures · Q3-2025 | $774M | |
| Free Cash Flow · Q3-2025 | $1.80B | |
| Base cash dividend per share · Q3-2025 | $1.00 | |
| Shares repurchased · Q3-2025 | 4,286,080 | |
| Net income · Q3-2025 | $1.02B | |
| Realized oil price · Q3-2025 | $64.60 | |
| Lease operating expenses per BOE · Q3-2025 | $5.65 |
Guidance
Oil production guidance raised to 495-498 MBO/d (midpoint +3 MBO/d); BOE guidance raised to 910-920 MBOE/d; capex narrowed to $3.45-3.55B
Raised production guidance on strong Q3 performance, maintained capex discipline, and generated robust FCF supporting shareholder returns.
Risks flagged
Oil price sensitivity: realized oil price $64.60/bbl, down from $73.13/bbl YoY, could pressure future cash flows if prices decline further.
“Realized oil price $64.60/bbl vs $73.13/bbl prior year”
Diamondback Energy, Inc. — questions
- What did Diamondback Energy, Inc. file recently?
- 35 SEC filings in the last 12 months. Latest: 8-K on 2026-10-08 — Diamondback Energy reports Q3 2026 realized prices: oil $87.30/bbl, gas $1.12/Mcf, NGLs $20.02/bbl; derivative net loss $182M; shares outstanding 279,959k. No guidance or material change.
Every figure on this page comes from Diamondback Energy, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.