Zacks Research Has Positive Estimate for FANG Q2 Earnings

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Diamondback Energy to $5.20 from $4.96, while keeping a Hold rating on the stock.
• Several other analysts remain more bullish, with recent price target increases and ratings such as Overweight, Strong Buy, and Outperform; the consensus target is $223.26.
• Diamondback recently beat quarterly expectations with $4.23 EPS on $4.24 billion in revenue, and it also increased its dividend to $1.10 per share quarterly, or $4.40 annually.

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Equities research analysts at Zacks Research increased their Q2 2026 earnings per share (EPS) estimates for shares of Diamondback Energy in a research note issued to investors on Friday, May 29th. Zacks Research analyst Team now anticipates that the oil and natural gas company will post earnings of $5.20 per share for the quarter, up from their prior estimate of $4.96. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Diamondback Energy's current full-year earnings is $19.54 per share. Zacks Research also issued estimates for Diamondback Energy's Q3 2026 earnings at $4.61 EPS, Q4 2026 earnings at $4.60 EPS, FY2026 earnings at $18.64 EPS, Q4 2027 earnings at $3.81 EPS and FY2027 earnings at $16.36 EPS.

Other analysts have also issued reports about the stock. Piper Sandler upped their price target 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. KeyCorp upped their price objective on shares of Diamondback Energy from $196.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, April 2nd. TD Cowen raised shares of Diamondback Energy to a "strong-buy" rating in a research note on Monday, February 9th. Mizuho raised their target price on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $223.26.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $191.48 on Monday. The stock has a market cap of $53.87 billion, a P/E ratio of 222.65 and a beta of 0.42. Diamondback Energy has a fifty-two week low of $133.75 and a fifty-two week high of $214.51. The firm's fifty day moving average price is $195.28 and its 200-day moving average price is $171.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping 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 the consensus estimate of $3.83 billion. During the same quarter in the previous year, the business earned $4.54 EPS. The company's revenue was up 4.7% compared to the same quarter last year.

Diamondback Energy Increases Dividend

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

Insider Buying and Selling

In other news, Director Steven E. West sold 6,000 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total value of $1,130,100.00. Following the sale, the director directly 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 at the SEC website. Also, CFO Jere W. Thompson III sold 750 shares of Diamondback Energy stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $182.47, for a total transaction of $136,852.50. Following the transaction, the chief financial officer directly owned 19,975 shares of the company's stock, valued at approximately $3,644,838.25. This represents a 3.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 174,321 shares of company stock worth $32,090,475 in the last 90 days. 0.64% of the stock is owned by company insiders.

Institutional Trading of Diamondback Energy

Several large investors have recently made changes to their positions in FANG. Moloney Securities Asset Management LLC purchased a new position in shares of Diamondback Energy in the third quarter worth about $472,000. Assetmark Inc. raised its stake in Diamondback Energy by 2.4% during the third quarter. Assetmark Inc. now owns 256,638 shares of the oil and natural gas company's stock worth $36,725,000 after purchasing an additional 5,936 shares during the period. Smead Capital Management Inc. increased its position in shares of Diamondback Energy by 24.6% during the third quarter. Smead Capital Management Inc. now owns 1,312,413 shares of the oil and natural gas company's stock valued at $187,806,000 after acquiring an additional 258,738 shares during the last quarter. National Pension Service increased its position in shares of Diamondback Energy by 4.8% during the third quarter. National Pension Service now owns 354,481 shares of the oil and natural gas company's stock valued at $50,726,000 after acquiring an additional 16,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Diamondback Energy by 9.2% during the third quarter. Dimensional Fund Advisors LP now owns 2,355,480 shares of the oil and natural gas company's stock valued at $337,078,000 after acquiring an additional 198,919 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

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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