Diamondback Energy, Inc. (FANG) To Go Ex-Dividend on March 5th

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Monday, February 23rd. Investors 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 2.3%. The ex-dividend date 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%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Diamondback Energy has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Diamondback Energy to earn $15.64 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 26.9%.

Diamondback Energy Price Performance

FANG opened at $178.96 on Tuesday. The stock has a fifty day moving average price of $158.76 and a 200 day moving average price of $150.14. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. Diamondback Energy has a 1 year low of $114.00 and a 1 year high of $183.36. The stock has a market cap of $50.48 billion, a price-to-earnings ratio of 31.90 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.26). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.67 earnings per share. Analysts forecast that Diamondback Energy will post 15.49 EPS 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.