Diamondback Energy stock gets higher 2026 output outlook after Q3

Published on 11/09/2026 at 13:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Diamondback Energy stock follows stronger third-quarter cash generation with higher output guidance. The company also lifted its base dividend.

Diamondback Energy raises shareholder returns

Third-quarter revenue rose to 5.431 billion US dollars, while diluted earnings reached 5.69 US dollars per share.
The company lifted its 2026 oil output forecast to 524 thousand barrels per day and its total production forecast to 1.015 million barrels of oil equivalent per day.
The quarterly base dividend rises to 1.18 US dollars per share and is payable on November 19, 2026.

Diamondback Energy, US25278X1090, Illustration mit AI erstellt.

Diamondback Energy reported stronger third-quarter results on November 2, 2026, and raised its full-year production outlook. The Midland, Texas-based oil and natural gas producer also increased its base dividend as cash generation supported broader shareholder returns. The company disclosed the figures in its third-quarter earnings release.

Third-quarter results strengthen cash generation

Revenue reached 5.431 billion US dollars in the quarter ended September 30, compared with 3.924 billion US dollars a year earlier. Net income attributable to Diamondback Energy rose to 1.603 billion US dollars from 1.018 billion US dollars, while diluted earnings per share increased to 5.69 US dollars from 3.51 US dollars.

Adjusted net income was 1.649 billion US dollars, or 5.86 US dollars per diluted share. The company generated 2.599 billion US dollars in operating cash flow and reported 2.148 billion US dollars in free cash flow. Adjusted free cash flow reached 2.150 billion US dollars, although the company also reported a non-cash loss on derivative instruments in the quarter.

Oil production averaged 525 thousand barrels per day, while total production reached 1.034 million barrels of oil equivalent per day. Oil output was flat from the second quarter and above the midpoint of management's guidance range; total production increased 2 percent sequentially.

Output outlook moves higher

Diamondback now expects 2026 oil production of approximately 524 thousand barrels per day, compared with a previous forecast of more than 522 thousand barrels per day. Total production guidance rises to approximately 1.015 million barrels of oil equivalent per day from more than 1 million previously.

Fourth-quarter oil production is expected to range from 518 thousand to 528 thousand barrels per day, with total production between 1.025 million and 1.045 million barrels of oil equivalent per day. Full-year capital expenditure guidance increased to 3.95 billion to 4.00 billion US dollars from approximately 3.9 billion, while fourth-quarter spending is expected at 1.00 billion to 1.05 billion US dollars.

Dividend increase sets next investor date

The board approved a 7.3 percent increase in the quarterly base dividend to 1.18 US dollars per share. The annual base dividend is now 4.72 US dollars per share, an 18 percent increase from a year earlier. Shareholders of record on November 12 are scheduled to receive the payment on November 19, 2026.

Diamondback also repurchased 1.348 million shares for approximately 251 million US dollars during the quarter at an average price of 185.94 US dollars. The company said it expects to continue repurchases opportunistically, using cash on hand, free cash flow and potential asset-sale proceeds.

Diamondback Energy stock traded at 159.13 euros on Lang & Schwarz at 13:44 CET on Monday, November 9, 2026.