Q2 EPS Estimates for Diamondback Energy Increased by KeyCorp

Key Points

• KeyCorp raised its Q2 2026 EPS estimate for Diamondback Energy to $5.63 from $5.20, while maintaining an Overweight rating and a $225 price target.
• Diamondback’s latest quarterly results beat expectations, with EPS of $4.23 versus the $3.74 consensus and revenue of $4.24 billion topping estimates.
• The company recently increased its quarterly dividend to $1.10 per share from $1.05, lifting the annualized payout to $4.40 and the dividend yield to about 2.3%.

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - KeyCorp raised their Q2 2026 earnings per share (EPS) estimates for Diamondback Energy in a research note issued to investors on Wednesday, June 3rd. KeyCorp analyst T. Rezvan now anticipates that the oil and natural gas company will post earnings per share of $5.63 for the quarter, up from their prior forecast of $5.20. KeyCorp has a "Overweight" rating and a $225.00 price objective on the stock. The consensus estimate for Diamondback Energy's current full-year earnings is $19.65 per share. KeyCorp also issued estimates for Diamondback Energy's Q3 2026 earnings at $6.44 EPS, FY2026 earnings at $21.69 EPS and Q4 2027 earnings at $4.74 EPS.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts' consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $3.83 billion. During the same quarter in the prior year, the firm earned $4.54 EPS. The business's revenue for the quarter was up 4.7% compared to the same quarter last year.

A number of other analysts have also issued reports on FANG. Raymond James Financial reiterated a "strong-buy" rating and set a $242.00 price objective on shares of Diamondback Energy in a research note on Monday, April 27th. Scotiabank increased their price target on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. UBS Group raised their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, April 10th. Freedom Capital raised shares of Diamondback Energy to a "strong-buy" rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $223.26.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $192.62 on Monday. The company's 50 day moving average is $196.07 and its 200-day moving average is $173.91. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. Diamondback Energy has a 12-month low of $134.30 and a 12-month high of $214.51. The firm has a market cap of $54.19 billion, a P/E ratio of 223.98 and a beta of 0.42.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Diamondback Energy's previous quarterly dividend of $1.05. Diamondback Energy's payout ratio is 511.63%.

Insider Transactions at Diamondback Energy

In related news, Director Steven E. West sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the sale, the director owned 4,484 shares in the company, valued at $844,561.40. The trade was a 57.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 7,857 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $189.20, for a total value of $1,486,544.40. Following the completion of the sale, the director directly owned 942,721 shares of the company's stock, valued at approximately $178,362,813.20. This represents a 0.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 78,464 shares of company stock valued at $14,946,406. 0.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners grew its holdings in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company's stock worth $821,649,000 after acquiring an additional 163,548 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company's stock valued at $844,073,000 after acquiring an additional 14,625 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Diamondback Energy by 11.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company's stock valued at $775,607,000 after acquiring an additional 532,756 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company's stock valued at $651,363,000 after acquiring an additional 534,073 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Diamondback Energy by 3.2% during the fourth quarter. Morgan Stanley now owns 3,828,941 shares of the oil and natural gas company's stock worth $575,605,000 after purchasing an additional 117,798 shares during the period. Institutional investors own 90.01% of the company's stock.

Key Stories Impacting Diamondback Energy

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target. Analyst estimate updates for Diamondback Energy
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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