Diamondback Energy (FANG) vs ONEOK (OKE)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Diamondback Energy (FANG) has outperformed ONEOK (OKE) over the past year, gaining 23.8% versus a gain of 21.5%. Over five years, FANG leads with a +70.3% price change compared with +35.2% for OKE. ONEOK is the larger company by market cap ($56.87 billion vs $53.05 billion), about 1.1 times the size.
On valuation, Diamondback Energy trades at a lower forward P/E (10.1x vs 14.5x for ONEOK). ONEOK offers the higher dividend yield (4.70% vs 2.24%). Diamondback Energy converts more of its revenue into profit, with a net margin of 11.1% versus 10.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FANG | OKE |
|---|---|---|
| Share price | $189.44 | $90.22 |
| Market cap | $53.05B | $56.87B |
| 1-day change | +2.74% | +2.46% |
| YTD return | +22.65% | +19.80% |
| 1-year return | +23.82% | +21.53% |
| 5-year return | +70.28% | +35.21% |
| P/E ratio (TTM) | 36.08 | 15.58 |
| Forward P/E | 10.11 | 14.46 |
| EPS (TTM) | $5.25 | $5.79 |
| Dividend yield | 2.24% | 4.70% |
| Annual dividend | $4.25 | $4.24 |
| Revenue (latest FY) | $15.03B | $33.63B |
| Revenue growth (YoY) | +35.79% | +54.99% |
| Net income (latest FY) | $1.66B | $3.39B |
| Gross margin | — | 30.50% |
| Operating margin | 8.43% | 17.07% |
| Net margin | 11.07% | 10.09% |
| 52-week high | $216.90 | $99.85 |
| 52-week low | $137.03 | $64.02 |
| Distance from 52-week high | -12.66% | -9.65% |
| Analyst consensus | strong_buy | buy |
| Avg. price target upside | +23.87% | +12.18% |
| Average volume | 2.34M | 3.64M |
| Shares outstanding | 280.02M | 630.41M |
| Employees | 1,762 | 6,326 |
| Sector | Energy | Utilities |
| Industry | Oil & Gas Production | Oil & Gas Production |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Diamondback Energy trades at a higher earnings multiple (36.1x vs 15.6x trailing P/E).
- ONEOK offers a meaningfully higher dividend yield (4.70% vs 2.24%).
- ONEOK grew revenue faster in its latest fiscal year (+54.99% vs +35.79%).
- The two companies sit in different sectors: Diamondback Energy in Energy and ONEOK in Utilities.
About Diamondback Energy
FANG stock →Diamondback Energy, Inc., an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas, the United States. The company primarily focuses on the development of the Spraberry and Wolfcamp formations of the Midland Basin; and the Wolfcamp and Bone Spring formations of the Delaware Basin, both of which are part of the Permian Basin in West Texas and New Mexico.
Energy · Oil & Gas Production · 1,762 employees
About ONEOK
OKE stock →ONEOK, Inc. operates as a midstream service provider of gathering, processing, fractionation, transportation, storage, and marine export services in the United States.
Utilities · Oil & Gas Production · 6,326 employees
FANG vs OKE FAQ
Which is bigger, Diamondback Energy or ONEOK?
ONEOK (OKE) is larger, with a market capitalization of $56.87B compared with $53.05B for Diamondback Energy (FANG).
Which stock has performed better over the past year, FANG or OKE?
FANG returned +23.82% over the past 12 months, compared with +21.53% for OKE (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FANG or OKE?
OKE has the lower trailing P/E at 15.6, versus 36.1 for FANG. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Diamondback Energy or ONEOK?
ONEOK has the higher yield at 4.70%, compared with 2.24% for Diamondback Energy.
Are Diamondback Energy and ONEOK in the same industry?
Yes. Both are classified in the Oil & Gas Production industry within the Energy sector.