Q2 EPS Forecast for Diamondback Energy Raised by Analyst

Key Points

• Zacks Research raised its Q2 2026 EPS forecast for Diamondback Energy to $4.96 from $4.57 and kept a Strong-Buy rating on the stock.
• Diamondback recently beat first-quarter expectations, reporting $4.23 EPS on $4.24 billion in revenue, both above analyst estimates.
• The company also increased its quarterly dividend to $1.10 per share, while several analysts have maintained bullish ratings and a consensus target price of $218.25.

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Research analysts at Zacks Research boosted their Q2 2026 EPS estimates for Diamondback Energy in a report released on Monday, May 18th. Zacks Research analyst Team now expects that the oil and natural gas company will earn $4.96 per share for the quarter, up from their prior forecast of $4.57. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Diamondback Energy's current full-year earnings is $18.93 per share. Zacks Research also issued estimates for Diamondback Energy's Q3 2026 earnings at $4.52 EPS, Q4 2026 earnings at $4.53 EPS and FY2027 earnings at $16.02 EPS.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Piper Sandler boosted their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Mizuho boosted their price objective on shares of Diamondback Energy from $205.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. TD Cowen upgraded shares of Diamondback Energy to a "strong-buy" rating in a research report on Monday, February 9th. Finally, Benchmark cut shares of Diamondback Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 5th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $218.25.

Diamondback Energy Trading Up 1.0%

FANG stock opened at $207.77 on Wednesday. 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 twelve month low of $132.20 and a twelve month high of $214.51. The stock has a market capitalization of $58.45 billion, a price-to-earnings ratio of 241.60 and a beta of 0.46. The firm's fifty day simple moving average is $192.80 and its two-hundred day simple moving average is $168.83.

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

Institutional Trading of Diamondback Energy

Hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. lifted its position in shares of 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 valued at $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter valued at about $26,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Diamondback Energy during the first quarter valued at about $26,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the third quarter valued at about $26,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the transaction, the executive vice president directly owned 60,493 shares in the company, valued at $10,888,740. This represents a 25.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $183.27, for a total transaction of $1,439,952.39. Following the transaction, the director owned 974,149 shares in the company, valued at approximately $178,532,287.23. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 169,321 shares of company stock valued at $31,055,475. Company insiders own 0.64% of the company's stock.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be issued a $1.10 dividend. The ex-dividend date is Thursday, May 14th. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy's dividend payout ratio (DPR) is currently 511.63%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.