Unlocking Q2 Potential of Diamondback (FANG): Exploring Wall Street Estimates for Key Metrics

Core Viewpoint - Diamondback Energy (FANG) is expected to report a significant decline in quarterly earnings per share while experiencing a notable increase in revenues compared to the previous year [1]. Earnings Estimates - Wall Street analysts predict quarterly earnings of $2.63 per share, reflecting a decline of 41.8% year-over-year [1]. - The consensus EPS estimate has been adjusted upward by 6.8% over the past 30 days, indicating a reassessment of projections by analysts [2]. Revenue Projections - Total revenues are forecasted to be $3.37 billion, representing a year-over-year increase of 35.8% [1]. - Analysts estimate revenues from oil, natural gas, and natural gas liquids to reach $3.21 billion, indicating a change of +47.8% from the prior-year quarter [5]. - Oil sales revenues are projected at $2.73 billion, suggesting a +36.7% year-over-year change [5]. - Revenues from natural gas liquid sales are expected to reach $320.12 million, reflecting an increase of +87.2% year-over-year [5]. - Natural gas sales revenues are predicted to be $115.33 million, indicating a substantial year-over-year change of +2206.6% [6]. Production Metrics - Average daily production is expected to be 890,056 barrels of oil equivalent per day, up from 474,670 barrels in the same quarter last year [6]. - Total production volume is projected at 80,985 thousand barrels of oil equivalent, compared to 43,195 thousand barrels in the same quarter of the previous year [7]. - Total production volume for oil is estimated at 44,921 thousand barrels, up from 25,129 thousand barrels year-over-year [8]. - Total production volume for natural gas liquids is expected to be 18,364 thousand barrels, compared to 9,514 thousand barrels in the same quarter last year [9]. Price Estimates - Average prices for natural gas liquids are projected to be $18 per barrel, consistent with the previous year's figure [7][9]. - Average prices for oil are expected to reach $63 per barrel, down from $80 per barrel in the same quarter last year [10]. - Average prices for hedged natural gas liquids are estimated at $18 per barrel, unchanged from the previous year [7]. Market Performance - Diamondback shares have shown a return of +6.4% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [11].