Diamondback raises 2026 oil production guidance to 522+ MBO/d and total production to 1,000+ MBOE/d
Company sees Q3 2026 oil production of 517 - 527 MBO/d and capital expenditures of $950 - $1,050 mln
Diamondback maintains full-year capital expenditures guidance at ~$3.9 bln
Overview
U.S. oil and gas producer's Q2 adjusted EPS and adjusted net income beat analyst expectations
Company, in July, doubled share repurchase authorization to $16 bln, with $9.9 bln remaining
Repurchased $141 mln in shares during Q2 2026
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 28 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Diamondback Energy Inc is $223.00, about 9.9% above its July 31 closing price of $202.95
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 12 three months ago
Result drivers and key details
- Co realized average oil price of $96.82 per barrel in Q2, up from $63.23 a year earlier
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