Why Diamondback Energy Shares Are Rising

Diamondback Energy Inc (NASDAQ:FANG) shares are trading higher by 3.2% at $82.60 after the company announced it initiated a share repurchase program of up to $2 billion.

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2020, the company reported net proven reserves of 1.3 billion barrels of oil equivalent.

Diamondback Energy has a 52-week high of $102.53 and a 52-week low of $23.63.

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.

Diamondback Energy Inc (NASDAQ:FANG) shares are trading higher by 3.2% at $82.60 after the company announced it initiated a share repurchase program of up to $2 billion.

"Diamondback is accelerating its previously announced capital return program due to continued strong operational performance and improved capital efficiency, a supportive macro backdrop and increasing financial strength. Our plan to return 50% of Free Cash Flow quarterly through our base dividend and other return mechanisms will now begin in the fourth quarter of 2021," stated Travis Stice, Chief Executive Officer of Diamondback, in Thursday's press release.

Diamondback Energy has a 52-week high of $102.53 and a 52-week low of $23.63.

FANGDiamondback Energy Inc

$166.000.02%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.

Why Diamondback Energy Shares Are Rising

Comments

Comments