Diamondback Energy Plans Special Dividend of $0.13 (FANG)

Diamondback Energy (NASDAQ:FANG) declared a special dividend on Wednesday, May 9th, Wall Street Journal reports. Investors of record on Monday, May 21st will be paid a dividend of 0.125 per share by the oil and natural gas company on Tuesday, May 29th. The ex-dividend date of this dividend is Friday, May 18th.

Shares of Diamondback Energy opened at $132.13 on Thursday, according to Marketbeat Ratings. The company has a current ratio of 0.53, a quick ratio of 0.52 and a debt-to-equity ratio of 0.30. The company has a market cap of $12.67 billion, a P/E ratio of 21.67, a PEG ratio of 0.69 and a beta of 0.84. Diamondback Energy has a 1 year low of $128.00 and a 1 year high of $130.10.

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Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. The business had revenue of $480.20 million for the quarter, compared to the consensus estimate of $445.78 million. Diamondback Energy had a net margin of 35.09% and a return on equity of 10.53%. The company’s quarterly revenue was up 104.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 earnings per share. equities analysts predict that Diamondback Energy will post 6.71 EPS for the current year.

Several equities analysts recently commented on the stock. JPMorgan Chase upped their price target on shares of Diamondback Energy from $155.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 1st. Williams Capital reaffirmed a “hold” rating and set a $134.00 price target on shares of Diamondback Energy in a research report on Wednesday, May 9th. ValuEngine raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, May 1st. Stifel Nicolaus set a $167.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, April 23rd. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $143.00 price target on shares of Diamondback Energy in a research report on Wednesday, April 18th. Three analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Diamondback Energy has an average rating of “Buy” and a consensus price target of $142.04.

In related news, CEO Travis D. Stice sold 87,150 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $125.20, for a total transaction of $10,911,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael L. Hollis sold 29,745 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $125.21, for a total transaction of $3,724,371.45. The disclosure for this sale can be found here. Insiders sold 136,431 shares of company stock valued at $17,070,232 in the last three months. Company insiders own 0.41% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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