Diamondback Energy Inc
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+ FollowMarket Cap$51.43B
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Earnings Call Q3 2026
November 3, 2026 - AI Summary
Capital discipline + “low reinvestment rate” remains a core strategy (forecast: stays low; targets balance-sheet flexibility)
- CEO emphasized Diamondback’s ~30–32% reinvestment rate (investor presentation/strip referenced) as a point of pride vs. supermajors, arguing it’s a deliberate hedge against volatile commodity prices (noted ~$60/bbl swing in Q3).
- Management expects reinvestment rate to remain low and free cash to be used for balance-sheet actions (notably debt/buybacks), rather than accelerating growth at any cost.
- Challenge: sustaining growth while keeping discipline if oil/service costs rise; however, they believe execution/cost structure can offset inflation.
Production growth outlook: near-term growth modest/uncertain; 2027 cadence “TBD” (expectation: flat-to-slight upside, update Feb)
- Asked about 2027, management expressed no need to formally guide yet and implied starting point likely flattish, with “minimal growth upside” possible depending on macro.
- They guided Q4 CapEx roughly similar to Q3 and said they’re trying to fight consumable/service inflation with efficiencies.
- Key expectation: can hold oil production flat at the higher end of the range while keeping costs controlled, but exact 2027 activity level depends on post-Q4 service environment and macro.
Free cash allocation: continued buybacks + dividend growth; debt reduction using strong oil/bond dislocations
- CEO described a “right decision every day” approach:
- When oil weakened earlier, they bought back shares.
- When oil strengthened later (and in response to rates), they also bought back bonds at/when below par.
- Dividends: highlighted continuing to increase the base dividend, with protection well below ~$40/bbl oil (dividend safety referenced).
- Opportunity: stronger oil/free-cash environment used to preserve capacity for buybacks if prices later decline; strategic goal is more leverage headroom without harming long-term returns.
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$278.43
52.2% upside
Current Fair Value
52.2% upsideUndervalued by 52.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $51.43 Billion |
|---|---|
| Enterprise Value | $63.81 Billion |
| Annual dividend | $4.25 |
| Dividend yield | 2.00% |
| Earnings per Share | $5.73 |
| Beta | 0.41 |
| Outstanding Shares | 281,202,000 |
Return
| Return on Equity | 4.64% |
|---|---|
| Return on Assets | 2.51% |
| Return on Invested Capital | 2.62% |
Valuation & Multiples
| P/E Ratio | 41.42 |
|---|---|
| PEG | 21.35 |
| Price to Sales | 3.05 |
| Price to Book Ratio | 1.17 |
| Enterprise Value to Revenue | 3.73 |
| Enterprise Value to EBIT | 37.76 |
| Enterprise Value to Net Income | 36 |
| Total Debt to Enterprise | 0.2 |
| Debt to Equity | 0.34 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 2, 2026
EPS Estimate
$5.72
Consensus analyst estimateRevenue Estimate
$4.60 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 22, 2027
EPS Estimate
$5.89
Consensus analyst estimateRevenue Estimate
$5.19 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 63.08% |
|---|---|
| Total Calls | 1,500▼ 99.95% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 2.79%▼ 69.28% |
|---|---|
| Total Invested | $1.44B▼ 95.96% |
| Investors Holding | 446▼ 811.00% |
About Diamondback Energy Inc
CEO: Travis Stice
