Diamondback Energy Inc (NASDAQ:FANG) to Issue Quarterly Dividend of $0.19

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Diamondback Energy Inc (NASDAQ:FANG) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.188 per share by the oil and natural gas company on Monday, August 26th. This represents a $0.75 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 15th.

Diamondback Energy stock opened at $99.94 on Wednesday. The company has a 50 day moving average of $103.18. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $15.88 billion, a PE ratio of 17.03, a PEG ratio of 0.64 and a beta of 0.82. Diamondback Energy has a 12-month low of $85.19 and a 12-month high of $140.78.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The company’s revenue was up 93.7% on a year-over-year basis. During the same quarter last year, the business earned $1.59 earnings per share. As a group, equities research analysts forecast that Diamondback Energy will post 7.28 earnings per share for the current year.

Several research firms have recently issued reports on FANG. Credit Suisse Group began coverage on shares of Diamondback Energy in a report on Monday, June 17th. They issued an “outperform” rating and a $135.00 price objective for the company. Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Co raised their target price on shares of Diamondback Energy from $169.00 to $171.00 and gave the stock an “outperform” rating in a report on Monday. KeyCorp raised their target price on shares of Diamondback Energy from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, ValuEngine cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-five have assigned a buy rating and three have given a strong buy rating to the company. Diamondback Energy presently has a consensus rating of “Buy” and an average price target of $157.39.

In related news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $107.47, for a total value of $161,205.00. Following the completion of the sale, the chief financial officer now owns 27,465 shares in the company, valued at approximately $2,951,663.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the sale, the vice president now owns 117,107 shares of the company’s stock, valued at approximately $13,137,063.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock valued at $1,258,505. 0.47% of the stock is owned by insiders.

Diamondback Energy Company Profile

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.

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Dividend History for Diamondback Energy (NASDAQ:FANG)

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