Diamondback Energy, Inc. (FANG) To Go Ex-Dividend on November 12th

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be given a dividend of $1.18 per share by the oil and natural gas company on Thursday, November 19th. This represents a $4.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Thursday, November 12th. This is a 7.3% increase from Diamondback Energy’s previous quarterly dividend of $1.10.

Diamondback Energy has raised its dividend by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Diamondback Energy has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Diamondback Energy to earn $22.18 per share next year, which means the company should continue to be able to cover its $4.72 annual dividend with an expected future payout ratio of 21.3%.

Diamondback Energy Stock Down 0.4%

Shares of NASDAQ:FANG opened at $178.17 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $195.33 and a two-hundred day simple moving average of $190.08. Diamondback Energy has a 12-month low of $139.41 and a 12-month high of $216.90. The stock has a market capitalization of $49.89 billion, a price-to-earnings ratio of 24.37 and a beta of 0.49.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.14. Diamondback Energy had a return on equity of 11.86% and a net margin of 11.03%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the firm posted $3.08 earnings per share. The company’s quarterly revenue was up 38.4% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy will post 22.57 earnings per share for the current fiscal year.

About Diamondback Energy

Diamondback Energy is an independent oil and natural gas company focused on the development and production of energy resources in the Permian Basin, primarily in West Texas and southeastern New Mexico. Its operations include exploration, drilling and production.

The company produces crude oil, natural gas and natural gas liquids. Its activities are concentrated in the Midland and Delaware Basin regions, where it develops oil and gas properties and related reserves.

Founded in 2007 and headquartered in Midland, Texas, Diamondback has expanded its Permian Basin operations over time, including through acquisitions.