Diamondback Energy, Inc. (FANG) To Go Ex-Dividend on May 14th

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Monday, May 4th. Investors of record on Thursday, May 14th will be given a dividend of 1.10 per share by the oil and natural gas company on Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, May 14th. This is a 4.8% increase from Diamondback Energy’s previous quarterly dividend of $1.05.

Diamondback Energy has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Diamondback Energy has a dividend payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Diamondback Energy to earn $16.49 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 25.5%.

Diamondback Energy Price Performance

Shares of FANG opened at $206.15 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 0.32. The stock has a market cap of $57.99 billion, a PE ratio of 239.71 and a beta of 0.46. Diamondback Energy has a 12-month low of $127.75 and a 12-month high of $214.51. The business has a 50-day simple moving average of $188.02 and a two-hundred day simple moving average of $164.88.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.71% and a net margin of 1.87%.The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $4.54 earnings per share. Analysts anticipate that Diamondback Energy will post 18.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FANG shares. Mizuho raised their price objective on shares of Diamondback Energy from $205.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Freedom Capital raised shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. UBS Group upped their price target on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Raymond James Financial reissued a “strong-buy” rating and set a $242.00 target price on shares of Diamondback Energy in a research note on Monday, April 27th. Finally, Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Five research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $209.95.

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.