Diamondback Energy, Inc. Announces Quarterly Dividend of $1.00 (NASDAQ:FANG)

Key Points

• Diamondback Energy, Inc. declared a quarterly dividend of $1.00 per share, payable to stockholders of record on August 14th, which reflects a dividend yield of 2.7%.
• The company's current dividend payout ratio is **30.1%**, and projected earnings per share for next year are $15.64, indicating strong future dividend coverage.
• Diamondback Energy's stock saw a **1.1% increase** in value, trading at $147.78, with a market capitalization of approximately $43.18 billion.

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) announced a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Thursday, August 14th will be paid a dividend of 1.00 per share by the oil and natural gas company on Thursday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%.

Diamondback Energy has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Diamondback Energy to earn $15.64 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 25.6%.

Diamondback Energy Stock Up 1.1%

NASDAQ:FANG traded up $1.64 during mid-day trading on Monday, reaching $147.78. The company's stock had a trading volume of 2,532,041 shares, compared to its average volume of 2,466,041. Diamondback Energy has a 1 year low of $114.00 and a 1 year high of $202.87. The stock has a fifty day moving average of $142.90 and a 200-day moving average of $146.70. The firm has a market capitalization of $43.18 billion, a PE ratio of 9.04 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. Equities research analysts forecast that Diamondback Energy will post 15.49 earnings per share for the current year.

Analyst Ratings Changes

FANG has been the topic of several research reports. Barclays cut their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective on the stock. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. KeyCorp dropped their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler raised their price objective on shares of Diamondback Energy from $225.00 to $228.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $191.59.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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