Diamondback Energy, Inc. (NASDAQ:FANG) Announces None Dividend of $2.34

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

Diamondback Energy has increased its dividend by an average of 29.8% annually 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 Stock Up 0.2 %

Shares of Diamondback Energy stock traded up $0.43 during trading on Wednesday, reaching $196.57. The company’s stock had a trading volume of 357,880 shares, compared to its average volume of 1,562,931. The company has a 50-day simple moving average of $198.21 and a two-hundred day simple moving average of $192.26. The company has a market cap of $35.06 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.06 and a beta of 1.90. Diamondback Energy has a 1-year low of $143.08 and a 1-year high of $214.50. 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 issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 earnings per share. As a group, equities analysts forecast that Diamondback Energy will post 18.63 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on FANG shares. Scotiabank decreased their target price on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Barclays boosted their price target on shares of Diamondback Energy from $214.00 to $216.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Piper Sandler boosted their target price on shares of Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $154.00 target price on shares of Diamondback Energy in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.20.

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.