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

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

Diamondback Energy has increased its dividend payment 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 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

FANG opened at $198.97 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The company has a market cap of $55.72 billion, a price-to-earnings ratio of 38.79 and a beta of 0.43. Diamondback Energy has a 52-week low of $134.30 and a 52-week high of $214.51. The firm’s fifty day simple moving average is $190.39 and its two-hundred day simple moving average is $186.39.

Diamondback Energy (NASDAQ:FANG) last announced 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 net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $2.38 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities analysts anticipate that Diamondback Energy will post 19.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. Mizuho lifted their price objective on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Wolfe Research reissued an “outperform” rating and set a $206.00 target price on shares of Diamondback Energy in a report on Tuesday, August 4th. UBS Group decreased their target price on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Scotiabank lifted their price target on Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Susquehanna increased their price objective on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $222.30.

Diamondback Energy Company Profile

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.