Zacks Research Has Positive Estimate for FANG Q2 Earnings

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Diamondback Energy to $5.24 from $5.22, indicating slightly improved earnings expectations for the oil and gas producer.
• The firm kept a Hold rating on FANG despite the higher estimates, suggesting the upgrade was not enough to turn more bullish on the stock.
• Diamondback’s most recent quarterly results beat Wall Street expectations, with EPS of $4.23 versus $3.74 expected and revenue of $4.24 billion versus $3.83 billion expected.

Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) - Stock analysts at Zacks Research boosted their Q2 2026 EPS estimates for shares of Diamondback Energy in a note issued to investors on Thursday, July 2nd. Zacks Research analyst Team now anticipates that the oil and natural gas company will post earnings per share of $5.24 for the quarter, up from their prior estimate of $5.22. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Diamondback Energy's current full-year earnings is $19.47 per share. Zacks Research also issued estimates for Diamondback Energy's FY2026 earnings at $18.70 EPS, Q1 2027 earnings at $4.31 EPS, Q2 2027 earnings at $3.98 EPS, Q3 2027 earnings at $4.36 EPS, Q4 2027 earnings at $3.87 EPS, FY2027 earnings at $16.51 EPS, Q1 2028 earnings at $3.52 EPS, Q2 2028 earnings at $3.45 EPS and FY2028 earnings at $14.62 EPS.

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

Other research analysts also recently issued reports about the company. Barclays raised their price objective on Diamondback Energy from $225.00 to $232.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Benchmark cut Diamondback Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 5th. Freedom Capital raised shares of Diamondback Energy to a "strong-buy" rating in a research report on Tuesday, March 10th. Susquehanna boosted their price objective on shares of Diamondback Energy from $231.00 to $245.00 and gave the stock a "positive" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $220.68.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $172.04 on Friday. Diamondback Energy has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The business has a 50-day moving average of $193.95 and a two-hundred day moving average of $178.21. The stock has a market capitalization of $48.40 billion, a P/E ratio of 200.05 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

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. This is a boost from Diamondback Energy's previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.6%. Diamondback Energy's payout ratio is currently 511.63%.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated 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 sale, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 121,548 shares of company stock valued at $23,146,460 in the last quarter. Company insiders own 0.64% of the company's stock.

Hedge Funds Weigh In On Diamondback Energy

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Diamondback Energy by 74.1% during the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company's stock worth $487,045,000 after acquiring an additional 1,379,010 shares during the period. EnCap Energy Capital Fund XII L.P. bought a new stake in Diamondback Energy in the fourth quarter valued at about $169,342,000. Smead Capital Management Inc. acquired a new position in Diamondback Energy in the second quarter worth about $144,775,000. Capital Research Global Investors lifted its stake in Diamondback Energy by 38.0% during the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company's stock worth $543,610,000 after purchasing an additional 1,046,398 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter valued at approximately $112,198,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy News Roundup

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

• Positive Sentiment: Zacks Research nudged higher its earnings forecasts for Diamondback Energy across multiple periods, including Q2 2026, FY2026, Q1 2027, Q2 2027, Q3 2027, Q4 2027, Q1 2028, Q2 2028, FY2027, and FY2028. Higher EPS estimates can signal improving profitability expectations and may help investor sentiment. Diamondback Energy stock page
• Neutral Sentiment: Zacks Research kept a Hold rating on the stock, which suggests the updated estimates were not strong enough to prompt a more bullish recommendation. Diamondback Energy stock page
• Neutral Sentiment: Diamondback’s subsidiary, Viper Energy, completed its $337 million acquisition of Riverbend Oil & Gas IX mineral and royalty interests, expanding its Permian Basin footprint. The deal could be strategically positive over time, but it also adds leverage and execution risk in the near term. Viper Energy acquisition article

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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