Diamondback Energy extends credit agreements and increases dividends
Diamondback Energy, Inc. (NASDAQ:fang) is one of According to Jim Cramer, the best dividend stocks.
We revised our credit agreement with Wells Fargo Bank on June 12, 2025. Due to reduced interest rates and certain fees, the maturity date has been postponed until June 12, 2030.
Pipeline workers overseeing crude oil flow from integrated water systems to storage tanks.
Diamondback Energy, Inc. (NASDAQ:FANG) is an independent Texas-based oil and natural gas company engaged in the hydrocarbon exploration business. The company’s focus is primarily on acquiring, developing, exploring and utilizing unconventional land oil and natural gas reserves in the Permian Basin in western Texas.
Its market capitalization is $43.55 billion, and Diamondback Energy, Inc. (NASDAQ:FANG) announced on Thursday an extension of its credit agreement. The company’s existing credit line was maturity dated June 2, 2028. By successfully modifying the terms of credit with the lender, the company was able to extend its maturity date until June 12, 2030. Viper Energy, a subsidiary of the company, has approved a 10% increase in base dividends after a $4.1 billion stake in Base Royalties Corp.
Following these developments, Wells Fargo repeated its share purchase ratings on June 16, 2025, with a price target of $208.
Diamondback Energy, Inc. (NASDAQ:FANG) offers a dividend yield of 3.51% and its payment rate is 38.62%, indicating self-sufficiency when meeting dividend obligations. The company has consistent dividend payment records since 2018.
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