What is Zacks Research's Estimate for FANG Q2 Earnings?

Key Points

• Zacks Research cut Diamondback Energy’s Q2 2027 earnings estimate to $3.77 per share from $3.97 and maintained a “Hold” rating. It also projects $3.83 EPS for Q3 2027 and $15.37 for fiscal 2028.
• Despite the downgrade, Diamondback’s broader analyst outlook remains positive, with a consensus “Buy” rating and an average price target of $221.75. The stock opened at $206.29 and was recently up 1.9%.
• Diamondback recently exceeded quarterly expectations, reporting $6.48 EPS versus the $6.08 consensus and $5.56 billion in revenue. The company also declared a $1.10 quarterly dividend, equal to a 2.1% annualized yield.

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Zacks Research reduced their Q2 2027 earnings estimates for shares of Diamondback Energy in a research note issued on Monday, August 17th. Zacks Research analyst Team now anticipates that the oil and natural gas company will earn $3.77 per share for the quarter, down from their prior forecast of $3.97. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Diamondback Energy's current full-year earnings is $19.73 per share. Zacks Research also issued estimates for Diamondback Energy's Q3 2027 earnings at $3.83 EPS and FY2028 earnings at $15.37 EPS.

A number of other brokerages have also recently weighed in on FANG. Wall Street Zen upgraded Diamondback Energy from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Jefferies Financial Group restated a "hold" rating and set a $205.00 price target on shares of Diamondback Energy in a research note on Sunday, August 9th. Susquehanna raised their price objective on Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Citigroup reduced their price objective on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $248.00 target price on shares of Diamondback Energy in a research report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and an average price target of $221.75.

Diamondback Energy Stock Up 1.9%

Shares of NASDAQ FANG opened at $206.29 on Tuesday. Diamondback Energy has a 52-week low of $134.30 and a 52-week high of $214.51. The firm has a fifty day moving average of $190.47 and a 200-day moving average of $188.07. The stock has a market capitalization of $57.77 billion, a PE ratio of 40.21 and a beta of 0.43. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.38 earnings per share.

Institutional Investors Weigh In On Diamondback Energy

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Diamondback Energy during the second quarter valued at about $3,303,362,000. Bank of New York Mellon Corp purchased a new position in Diamondback Energy in the second quarter valued at about $852,791,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Diamondback Energy during the 2nd quarter worth approximately $268,855,000. Wellington Management Group LLP raised its position in shares of Diamondback Energy by 74.1% in the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company's stock valued at $487,045,000 after purchasing an additional 1,379,010 shares in the last quarter. Finally, EnCap Energy Capital Fund XII L.P. acquired a new position in shares of Diamondback Energy in the 4th quarter valued at approximately $169,342,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 500 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the transaction, the executive vice president owned 46,392 shares of the company's stock, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 129,167 shares of company stock valued at $24,714,309. Corporate insiders own 0.64% of the company's stock.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a $1.10 dividend. The ex-dividend date is Thursday, August 13th. 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 85.77%.

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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