Diamondback Ener Stock Price, News & Analysis

Diamondback Energy (NASDAQ: FANG) announced its plan to release second quarter 2022 financial results on August 1, 2022, after market close. The company will conduct a conference call on August 2, 2022, at 9:00 a.m. CT to discuss the results with investors and analysts. The call will be accessible via a live webcast and replay. Diamondback specializes in the acquisition and development of unconventional oil and natural gas reserves in the Permian Basin, focusing on maximizing shareholder value.

Diamondback Energy (NASDAQ: FANG) has announced a boost in its capital return program, committing at least 75% of Free Cash Flow, up from 50%. This includes an increase in its base dividend to $3.00 per share annually, starting Q2 2022, reflecting a 7.1% increase. The total dividend payout for Q2 is expected to be $3.05 per share. The Company plans to continue opportunistic share repurchases, having already bought 1,966,516 shares for around $253 million. Diamondback's leadership emphasizes a strong balance sheet and confidence in future cash flow.

Weiss Law is investigating potential breaches of fiduciary duty by Rattler Midstream LP's board of directors regarding its proposed merger with Diamondback Energy, Inc. Under the agreement, unitholders of Rattler will receive 0.113 units of Diamondback for each Rattler unit, translating to an implied value of approximately $15.08 based on Diamondback's recent closing price of $133.43. The investigation will assess whether the board acted in the best interest of unitholders and whether the merger consideration is adequate.

Diamondback Energy (NASDAQ: FANG) announced on May 15, 2022, a definitive agreement to acquire publicly held common units of Rattler Midstream LP (NASDAQ: RTLR) not already owned by Diamondback. The all-stock transaction values Rattler's common units at a 17.3% premium based on closing prices. This merger aims to simplify operations and enhance scale, benefiting stakeholders from both companies. Independent directors on Rattler's board unanimously approved the agreement, which is expected to finalize in Q3 2022, pending customary conditions.

Diamondback Energy (NASDAQ: FANG) reported strong Q1 2022 results with an average production of 222.8 MBO/d and cash flow from operating activities of $1,252 million. The company declared a base dividend of $0.70 per share and a variable dividend of $2.35 per share, yielding a total of 9.7%. Free Cash Flow reached $974 million, while net income was $779 million, or $4.36 per diluted share. Diamondback also announced a capital budget of $1.75-$1.90 billion for the year and successfully executed share repurchases totaling $6.7 million.

Diamondback Energy, Inc. (NASDAQ: FANG) announced plans to release its first quarter 2022 financial results on May 2, 2022, after the market closes. Following the release, a conference call and webcast will be held on May 3, 2022, at 8:00 a.m. CT to discuss the results. Participants can join via telephone or listen online through the company's investor relations page. A telephonic replay of the call will be available until May 10, 2022. Diamondback operates primarily in the Permian Basin, focusing on the development and acquisition of oil and gas reserves.

Diamondback Energy (FANG) has pledged a $10 million donation to support humanitarian efforts for Ukrainians displaced by the ongoing conflict. The funds will be allocated to various non-profit organizations providing direct aid to affected individuals. CEO Travis Stice emphasized the company's commitment to assist the millions suffering due to the crisis, highlighting the importance of providing care and comfort during this challenging time. This move reflects Diamondback's engagement in social responsibility amid global events.

Diamondback Energy, Inc. (NASDAQ: FANG) has announced a $750 million offering of 4.250% senior notes maturing on March 15, 2052. The notes will be priced at 99.714% of the principal amount. Proceeds will fund the redemption of the 4.750% Senior Notes due 2025 and the 2.875% Senior Notes due 2024, each at the applicable redemption price, including make-whole premiums and interest. The offering is expected to close on March 17, 2022, subject to customary conditions.

Diamondback Energy (NASDAQ: FANG) has announced significant leadership changes aimed at enhancing its operational efficiency. Travis Stice continues as CEO and will now serve as Chairman of the Board, succeeding Steven West, who remains a Director. Kaes Van’t Hof is promoted to President while maintaining his CFO role. Daniel Wesson steps up as COO. Additionally, four new Vice Presidents were appointed, indicating a strong internal talent pool. These changes are expected to strengthen the company’s strategic direction and operational execution.