Diamondback Energy, Inc. (NASDAQ:FANG) to Issue $1.10 Quarterly Dividend

Key Points

• Diamondback Energy declared a $1.10 quarterly dividend, payable August 20 to shareholders of record as of August 13, implying a $4.40 annualized dividend and a 2.2% yield.
• The company has increased its dividend for seven consecutive years, with a 33.2% payout ratio and an expected future payout ratio of 26.3%, suggesting continued earnings coverage.
• Diamondback reported quarterly EPS of $6.48, beating estimates by $0.40, while revenue reached $5.56 billion—up 51.2% year over year and above analyst expectations.

Diamondback Energy, Inc. (NASDAQ:FANG - Get Free Report) announced a quarterly dividend on Monday, August 3rd. 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 raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 7 years. Diamondback Energy has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Diamondback Energy to earn $16.76 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 26.3%.

Diamondback Energy Trading Down 2.1%

NASDAQ FANG opened at $198.75 on Tuesday. The firm's 50 day moving average price is $190.75 and its two-hundred day moving average price is $184.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy has a twelve month low of $134.30 and a twelve month high of $214.51. The stock has a market cap of $55.91 billion, a price-to-earnings ratio of 231.11 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy's quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 earnings per share. Equities analysts anticipate that Diamondback Energy will post 18.9 EPS for the current year.

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.

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