Q2 EPS Forecast for Diamondback Energy Lifted by Analyst

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Diamondback Energy to $5.37 from $5.24, while maintaining a Hold rating on the stock.
• Diamondback recently beat Wall Street expectations in its latest quarterly report, posting $4.23 EPS versus the $3.74 consensus and generating $4.24 billion in revenue, ahead of forecasts.
• Analyst sentiment remains generally positive, with the stock carrying an average Buy rating and a consensus target price of $219.53; the company also recently increased its quarterly dividend to $1.10 per share.

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Equities researchers at Zacks Research lifted their Q2 2026 earnings estimates for Diamondback Energy in a research note issued to investors on Friday, July 17th. Zacks Research analyst Team now anticipates that the oil and natural gas company will earn $5.37 per share for the quarter, up from their previous forecast of $5.24. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Diamondback Energy's current full-year earnings is $19.14 per share. Zacks Research also issued estimates for Diamondback Energy's Q3 2026 earnings at $4.32 EPS, Q1 2028 earnings at $3.57 EPS, Q2 2028 earnings at $3.51 EPS and FY2028 earnings at $14.83 EPS.

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

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded Diamondback Energy from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Mizuho raised their price target on Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Truist Financial lowered their price objective on Diamondback Energy from $242.00 to $220.00 and set a "buy" rating for the company in a research report on Thursday. Scotiabank upped their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, UBS Group raised their target price on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $219.53.

Diamondback Energy Price Performance

Shares of FANG opened at $195.54 on Monday. The firm has a market capitalization of $55.01 billion, a price-to-earnings ratio of 227.37 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The business's fifty day moving average price is $191.24 and its two-hundred day moving average price is $181.01. Diamondback Energy has a 52 week low of $134.30 and a 52 week high of $214.51.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, May 14th. This is an increase from Diamondback Energy's previous quarterly dividend of $1.05. Diamondback Energy's dividend payout ratio is presently 511.63%.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director owned 851,530 shares of the company's stock, valued at $159,338,293.60. This trade represents a 8.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the transaction, the director owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 113,691 shares of company stock valued at $21,622,752 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its holdings in Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in Diamondback Energy in the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new position in Diamondback Energy in the first quarter valued at about $26,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy in the third quarter worth about $26,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

About Diamondback Energy

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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