Diamondback Energy, Inc. (FANG) to Issue None Dividend of $2.34 on August 22nd

Diamondback Energy, Inc. (NASDAQ:FANG) declared a None dividend on Monday, August 5th, Zacks reports. Investors of record on Thursday, August 15th will be paid a dividend of 2.34 per share by the oil and natural gas company on Thursday, August 22nd. This represents a dividend yield of 1.9%. The ex-dividend date is Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26.

Diamondback Energy has increased its dividend by an average of 29.8% per year over the last three years. Diamondback Energy has a payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Diamondback Energy to earn $20.95 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 17.2%.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $197.92 on Tuesday. The company’s fifty day simple moving average is $198.08 and its two-hundred day simple moving average is $191.98. Diamondback Energy has a 12-month low of $143.08 and a 12-month high of $214.50. The firm has a market cap of $35.30 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $3.68 EPS. Diamondback Energy’s revenue was up 29.4% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy will post 18.63 EPS for the current year.

Insider Buying and Selling

In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FANG shares. Susquehanna boosted their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Morgan Stanley reduced their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Stifel Nicolaus upped their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Truist Financial boosted their price target on Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.00.

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.