Diamondback Energy, Inc. (FANG) to Distribute Quarterly Dividend of $0.90 on May 22nd

Diamondback Energy, Inc. (NASDAQ:FANG) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.90 per share by the oil and natural gas company on Wednesday, May 22nd. This represents a $3.60 dividend on an annualized basis and a yield of 1.84%.

Diamondback Energy has increased its dividend by an average of 29.8% per year over the last three years and has raised its dividend every year for the last 6 years. Diamondback Energy has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Diamondback Energy to earn $21.42 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 16.8%.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $196.01 on Thursday. Diamondback Energy has a 52-week low of $123.41 and a 52-week high of $211.96. The business’s 50-day moving average price is $194.57 and its 200 day moving average price is $170.39. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The firm has a market cap of $34.96 billion, a P/E ratio of 11.05 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.69%. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $4.10 EPS. On average, equities research analysts expect that Diamondback Energy will post 18.94 earnings per share for the current year.

Insider Transactions at Diamondback Energy

In related news, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the completion of the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now owns 8,485 shares in the company, valued at $1,632,089.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock worth $11,311,096 in the last three months. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FANG has been the subject of several recent analyst reports. Truist Financial raised their price target on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a report on Monday, April 22nd. KeyCorp raised their target price on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Bank Of America (Bofa) lowered their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. Scotiabank raised their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, UBS Group upped their target price on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $202.53.

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.