Diamondback Energy, Inc. (FANG) To Go Ex-Dividend on November 12th

Diamondback Energy, Inc. (NASDAQ:FANG) announced a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be given a dividend of $1.18 per share by the oil and natural gas company on Thursday, November 19th. This represents a $4.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 12th. This is a 7.3% increase from Diamondback Energy’s previous quarterly dividend of $1.10.

Diamondback Energy has raised its dividend payment 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 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Diamondback Energy to earn $22.18 per share next year, which means the company should continue to be able to cover its $4.72 annual dividend with an expected future payout ratio of 21.3%.

Diamondback Energy Trading Down 0.4%

Shares of FANG opened at $178.17 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.55. The company has a market cap of $49.89 billion, a price-to-earnings ratio of 24.37 and a beta of 0.49. The stock has a fifty day moving average price of $195.33 and a two-hundred day moving average price of $190.08. Diamondback Energy has a 52-week low of $139.41 and a 52-week high of $216.90.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, topping the consensus estimate of $5.72 by $0.14. Diamondback Energy had a return on equity of 11.86% and a net margin of 11.03%. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same quarter in the prior year, the business earned $3.08 earnings per share. The business’s revenue for the quarter was up 38.4% on a year-over-year basis. Analysts predict that Diamondback Energy will post 22.57 EPS for the current fiscal year.

About Diamondback Energy

Diamondback Energy is an independent oil and natural gas company focused on the development and production of energy resources in the Permian Basin, primarily in West Texas and southeastern New Mexico. Its operations include exploration, drilling and production.

The company produces crude oil, natural gas and natural gas liquids. Its activities are concentrated in the Midland and Delaware Basin regions, where it develops oil and gas properties and related reserves.

Founded in 2007 and headquartered in Midland, Texas, Diamondback has expanded its Permian Basin operations over time, including through acquisitions.