Diamondback Energy stock gets higher outlook after strong Q3

Diamondback Energy reported stronger third-quarter operating and financial results on Monday, November 2, 2026, and raised both its shareholder distribution and full-year production outlook. The company said in its official results release that the quarter ended September 30 with higher cash generation and continued production growth.

Diamondback Energy stock traded at 164.22 euros on Lang & Schwarz at 13:45 CET on Thursday, November 5, 2026. Investors can follow the real-time quote of Diamondback Energy stock.

Quarterly earnings gain momentum

Revenue rose to 5.431 billion US dollars from 3.924 billion US dollars in the year-earlier quarter. Net income attributable to Diamondback reached 1.603 billion US dollars, compared with 1.018 billion US dollars a year earlier. Diluted earnings per share were 5.69 US dollars, while adjusted net income attributable to Diamondback was 1.649 billion US dollars, or 5.86 US dollars per diluted share.

Cash generation remained a central feature of the quarter. Net cash provided by operating activities reached 2.599 billion US dollars, and the company reported free cash flow of 2.148 billion US dollars. Cash capital expenditures totaled 1.026 billion US dollars. Diamondback also repurchased 1.348 million shares for approximately 251 million US dollars during the quarter.

Production outlook moves higher

Oil production averaged 524,946 barrels per day, compared with 503,750 barrels per day in the third quarter of 2025. Combined production reached 1,033,967 barrels of oil equivalent per day, up from 942,946 barrels of oil equivalent per day in the year-earlier period.

With one quarter remaining in the year, Diamondback raised its 2026 oil production guidance to approximately 524,000 barrels per day from more than 522,000 barrels per day. Total production guidance increased to approximately 1.015 million barrels of oil equivalent per day from more than 1 million barrels per day. The company now expects full-year capital expenditures of 3.95 billion to 4.00 billion US dollars, compared with approximately 3.9 billion US dollars previously.

For the fourth quarter, management expects oil production of 518,000 to 528,000 barrels per day and total production of 1.025 million to 1.045 million barrels of oil equivalent per day. Fourth-quarter capital expenditures are expected to range from 1.0 billion to 1.05 billion US dollars.

Dividend increase sets next milestone

Diamondback's board approved a 7.3 percent increase in the quarterly base dividend to 1.18 US dollars per common share. The annual base dividend is now 4.72 US dollars per share, an 18 percent increase from a year earlier. The dividend is payable on November 19, 2026, to shareholders of record at the close of business on November 12.

The company also acquired a 7.5 percent equity interest in the Solitude Pipeline System, which connects the Permian Basin with Katy, Texas. Diamondback said it had redeemed all 698 million US dollars of its 2026 senior notes at par on October 1, while additional debt repurchases continued in the fourth quarter.

Energy investors will now focus on fourth-quarter production execution, capital spending and the company’s ability to sustain cash returns while commodity prices and Permian Basin operating conditions remain key external factors.

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