Diamondback Energy, Inc. (FANG) to Issue Quarterly Dividend of $1.10 on August 20th

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Thursday, August 13th will be given a dividend of 1.10 per share by the oil and natural gas company on Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 13th.

Diamondback Energy has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Diamondback Energy has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Diamondback Energy to earn $17.35 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 25.4%.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $198.97 on Tuesday. Diamondback Energy has a one year low of $134.30 and a one year high of $214.51. The company has a market cap of $55.72 billion, a price-to-earnings ratio of 38.79 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The business’s 50 day moving average price is $190.39 and its 200 day moving average price is $186.39.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business earned $2.38 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. On average, research analysts predict that Diamondback Energy will post 19.73 EPS for the current year.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.