Diamondback Energy, Inc. (NASDAQ:FANG) Announces Quarterly Dividend of $0.40


Share on StockTwits

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Monday, February 22nd, RTT News reports. Investors of record on Thursday, March 4th will be given a dividend of 0.40 per share by the oil and natural gas company on Thursday, March 11th. This represents a $1.60 annualized dividend and a yield of 2.34%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.38.

Shares of FANG stock opened at $68.40 on Tuesday. The firm has a fifty day moving average of $61.88 and a two-hundred day moving average of $43.40. The firm has a market cap of $10.81 billion, a P/E ratio of -2.54, a P/E/G ratio of 0.59 and a beta of 2.59. Diamondback Energy has a 1-year low of $14.55 and a 1-year high of $73.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.45 and a quick ratio of 0.43.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Sunday, February 21st. The oil and natural gas company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. Diamondback Energy had a positive return on equity of 5.10% and a negative net margin of 135.48%. The business had revenue of $769.00 million during the quarter, compared to the consensus estimate of $768.65 million. During the same period last year, the firm earned $1.93 earnings per share. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year. On average, sell-side analysts expect that Diamondback Energy will post 3.06 EPS for the current year.

Several research firms recently issued reports on FANG. Truist upped their price target on Diamondback Energy from $60.00 to $65.00 in a research report on Wednesday, January 6th. Cowen increased their target price on shares of Diamondback Energy from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 20th. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a report on Thursday, December 31st. Siebert Williams Shank reiterated a “buy” rating and set a $62.00 price objective on shares of Diamondback Energy in a research note on Wednesday, January 13th. Finally, KeyCorp raised their target price on shares of Diamondback Energy from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, February 11th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $63.77.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

Recommended Story: What is a Futures Contract?

Dividend History for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.