Just caught Diamondback's Q4 earnings and FANG actually beat on revenue pretty solidly. They reported $3.38B versus consensus of $3.15B - that's a nice 7% beat. EPS came in at $1.74 though, which missed expectations of $1.88, so mixed bag overall.

Looking at the operational metrics, their daily production hit 969K BOE/D, which is ahead of analyst estimates around 951K. The interesting part is how their pricing played out - oil hedged at $57.07 was basically right on the $57.12 estimate, but natural gas liquids came in lower than expected at $13.51 versus $14.41. That's where some of the pressure on earnings came from.

Revenue from oil, gas and liquids combined was $3.03B, which actually beat the $3.02B estimate, but year-over-year that's down 12.6%. Oil sales specifically were $2.74B versus $2.61B expected, so that outperformed. The other operating income jumped 133% year-over-year to $35M, which was a nice surprise.

FANG stock has been up about 2.4% over the past month, outperforming the broader market which is down 0.5%. Currently sitting at a Zacks Rank 3 (Hold), so analysts think it'll move with the market. The earnings beat on revenue is solid, but the EPS miss and declining year-over-year numbers suggest some headwinds in the energy space right now.