Diamondback Energy, Inc. (FANG) to Issue Quarterly Dividend of $1.05 on March 12th

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Monday, February 23rd. Stockholders of record on Thursday, March 5th will be paid a dividend of 1.05 per share by the oil and natural gas company on Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, March 5th. This is a 5.0% increase from Diamondback Energy’s previous quarterly dividend of $1.00.

Diamondback Energy has increased its dividend by an average of 0.6%annually over the last three years and has raised its dividend every year for the last 7 years. Diamondback Energy has a dividend payout ratio of 30.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.7%

NASDAQ FANG opened at $172.52 on Wednesday. The firm’s fifty day moving average price is $156.95 and its 200 day moving average price is $149.22. Diamondback Energy has a 12 month low of $114.00 and a 12 month high of $177.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market capitalization of $49.41 billion, a price-to-earnings ratio of 30.75 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.06%. Diamondback Energy’s revenue was down 9.0% on a year-over-year basis. During the same period last year, the firm earned $3.67 earnings per share. On average, sell-side analysts expect that Diamondback Energy will post 15.49 earnings per share for the current fiscal year.

About Diamondback Energy

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.