| Account | Shares | Price | Value | % of acct | Cost/sh | Gain $ | Gain % | Target |
|---|---|---|---|---|---|---|---|---|
| 401K | 5 | $203.17 | $1,016 | 0.04% | $204.83 | $-8 | -0.8% | — |
In short: Held in WEEI: "a Diamondback in West Texas is in that portfolio" — the pure-producer example.
15:21So if we look at the energy platform, we have a broad energy-focused oil and gas ETF called WEEI and that one is, think large cap companies like an Exxon for a producer, or I should say integrated companies since they own everything. But if you look at producers alone, a Diamondback in West Texas is in that portfolio. And then if you think of the midstream part of the industry, the transporters moving the volumes around.
In short: News mention ("Stocks I'm Watching"): its largest shareholder sold nearly $2 billion of shares Tuesday per filings; stock fell 8% and was ticking lower premarket.
In short: Named in Lebenthal's energy list ("these Fangs") alongside Exxon, Cheniere and Transocean as long-duration beneficiaries of the inventory refill.
In short: Brown best-stocks energy name (Permian E&P). The last ticker on his read-out; "these are smaller companies and these charts look unbelievable." Saccocia endorses the construction: "this idea of a barbell hedge is incredibly important. Energy, healthcare… a great way to just take a little bit off the table in tech."
In short: Up ~75% from a three-year low, still cheap on the right metric, no trim. "A very similar security that has also rewarded Haymaker readers — at least for those who actually act on our recommendations — is Diamondback Energy (FANG). We recommended FANG back on April 7th, 2025, at $121, and added it to our Buy List at that time." The entry is credited to the panic, not to prescience alone: "we pretty much caught the three-year low on this one and it's now up almost 75%… in less than a year and a half. Of course, that was during the Liberation/Obliteration Day period of extreme broad market weakness," and it beats "the S&P's roughly 50% rally since the Tariff Tantrum." Valuation: "FANG also continues to trade very inexpensively. Relative to its own history, it's definitely at the low end on a Price/Sales basis. As we've so often written, this is our preferred valuation metric for a cyclical company like FANG" — justified with the 2022 example in which a doubling of EPS on $100 oil "deflat[ed] the P/E to an unsustainably low point" while P/S fell "to a significantly lesser extent." Same instruction as EOG: "the chart patterns, the valuation, and the fundamental stories all remain highly encouraging," so sit tight and let it run; Super-Major takeout is possible but "always [a] longshot."
Diamondback Energy is a shale oil producer focused on the Permian Basin in west Texas — the most productive oil field in the United States. Like EOG, it is a straightforward business: pump oil, sell oil.
This is a scoreboard entry as much as a recommendation. Haymaker recommended it in April 2025 at $121, right in the middle of the market panic around the tariff announcements — what Hay calls the "Liberation/Obliteration Day" period. Buying into that fear turned out to catch almost exactly a three-year low, and the stock is up close to 75% since, against roughly 50% for the S&P over the same stretch.
The interesting part is the valuation method, which is the most reusable idea in the whole post. Most people judge a stock by its price-to-earnings ratio — the share price divided by profit per share. For a company whose profits swing wildly with a commodity price, that ratio actively misleads you, and Hay explains exactly how with a real example. In the first half of 2022 oil went above $100, Diamondback's earnings per share more than doubled from the previous year, and the P/E ratio therefore collapsed to a very low number. The stock looked its cheapest at precisely the moment its profits were least repeatable. Sales, by contrast, move much less violently than profits, so the price-to-sales ratio fell too but nowhere near as far — it gave a truer reading. That is why, for cyclical businesses, he compares price to sales instead of to earnings, and on that basis Diamondback is still near the low end of its own historical range.
Same conclusion as EOG, for the same three reasons — the chart, the valuation and the business story all still look encouraging — so no trimming despite the gain. The possibility of a super-major buying it is mentioned and dismissed as a longshot.
In short: The other E&P Terranova points to as the way to stay long energy without buying the crowded refiners — "like a Devon, like a FANG. Those are working as well" — against Talkington's backdrop of under-drilling since the war started and an SPR at an all-time low that eventually has to be refilled.
Diamondback is the other producer Terranova points to as the less-crowded way to stay long energy — "those are working as well." Same logic as Devon: the sector's leadership is real, but the refining names have already attracted the momentum money, and an oil-and-gas producer gives you the sector exposure without the positioning risk he is flagging.
In short: Owned (US portfolio). Kaes Van't Hof "doing a great job communicating the reality of the Permian" — not a growth business, a fixed-barrel world, only drilling when profitable. Honest, but "they're going to get bought at some point" because someone must scale to 2M bbl/d.
Diamondback is a US shale producer focused on the Permian basin in Texas. Smead owns it and praises CEO Kaes Van't Hof for being honest that the Permian is no longer a growth story — the easy barrels aren't there like 20 years ago, so Diamondback only drills when it's clearly profitable rather than chasing volume. The twist: because the basin still needs more scale and Diamondback doesn't want to be a buyer, Smead thinks "they're going to get bought at some point" — a larger player will need to acquire it to reach the 2-million-barrel supermajor threshold.
36:47Remember Cenovus used to actually be partly owned by Conoco and they sold that stake off over time. So, again, that's a part that I don't get. Diamondback, Case has been great. I think Case has probably been on your show here or there. But Case they're doing a great job of just communicating the reality of the Permian, right? They're not in the growth business.
In short: Energy pick (oil-tracking) — likes the chart and valuation; concedes it "has not yet broken out" but contends it will "before long" (could be wrong). Multiples "extremely undemanding," well above last year's throw-away lows.
Diamondback is a low-cost shale oil producer. Haymaker likes the valuation (cheap on earnings and sales) and thinks it's about to break out to new highs, though he admits it hasn't yet and he could be wrong. It's part of the same bet: oil is unusually cheap (the US oil price, adjusted for inflation, is back near 2011 levels) while global oil inventories are at crisis lows, so these producers are mispriced.
In short: His preferred E&P — a Midland-Basin "basin master" (with the Venom minerals arm) levered up via acquisitions, so it's attractive vs the pricier EOG. Lowest geopolitical/exploration risk: Texas wells, Texas pipes, Texas customers — and a likely eventual takeout.
Diamondback is his favorite of the oil drillers. It became the dominant operator in one prime patch of West Texas (the Midland Basin) by buying up its neighbors, and it owns a side business, Venom, that collects royalty checks on land others drill. Everything is in Texas — Texas wells, Texas pipelines, Texas customers — so there's essentially no risk from overseas politics or from gambling on expensive exploration.
He prefers it over the higher-quality-but-pricier EOG simply on value: Diamondback took on some debt to do its acquisitions, so the stock is cheaper. And because it's a tidy, single-basin operator, it's exactly the kind of company a big oil major eventually buys out — a likely payday down the road.
1:10:21— of the E&P stocks do you like and why? E&P So, I like Diamondback. Diamondback Fang. — Fang. So, Diamondback is a rattlesnake. A Diamondback rattler has fangs. Diamondback has a mineral interest company attached to it called Venom. They in 25, 24, 23, they consolidated one basin, the Midland Basin, part of the Permian. They are the last. They became a basin master.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.