Diamondback Energy (FANG) Is On Jim Cramer’s Radar When It Comes To Oil Stocks

Published on June 2, 2026 at 12:27 am by Ramish Cheema in News

We recently published Jim Cramer Warned About Market Manipulation & Discussed These 22 Stocks. Diamondback Energy, Inc. (NASDAQ:FANG) is one of the stocks discussed by Jim Cramer.

Diamondback Energy, Inc. (NASDAQ:FANG) is an oil and gas exploration and production company with operations in Texas and New Mexico. The shares are up by 42% over the past year and by 25% year-to-date. Barclays discussed the firm on May 5th as it raised the share price target to $225 from $190 and kept an Overweight rating on the stock. Barclays’ coverage came after Diamondback Energy, Inc. (NASDAQ:FANG)’s first quarter results, which saw the firm’s production beat expectations. Cramer mentioned the oil company as part of a broader set of stocks that he believes can be bought if one is interested in buying oil stocks:

“Look if you have to buy the oil stocks, it’s Conoco [inaudible] Oxy’s second. If you want growth, you still do Diamond. And if you want natural gas, [inaudible] Devon. And I like natural gas a lot. I think that EQT is really [inaudible]. EQT is really good because it is the data center natural gas. And we want anything data center.”

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Artisan Value Fund discussed Diamondback Energy, Inc. (NASDAQ:FANG) in its Q1 2026 investor letter:

“Due to the Iran war-driven supply shock to energy markets, our top Q1 contributors were energy holdings EOG Resources, Diamondback Energy, Inc. (NASDAQ:FANG) and SLB. They performed about in line with the sector, but we were overweight the sector, which helped portfolio performance. EOG and Diamondback are US shale-focused exploration and production companies. Diamondback also has a strong cost profile that is primarily the result of a contiguous, high-quality acreage position in the Permian Basin of the southwestern US. The company’s culture supplements the acreage position with drilling discipline and conservative business plans. Further, management is committed to a strong balance sheet and shareholder distributions.”