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MIDLAND, Texas - Diamondback Energy, Inc. (NASDAQ:FANG) reported fourth quarter earnings and revenue that surpassed analyst expectations, while also announcing an 11% increase to its annual base dividend. The company’s stock rose 1% aftermarket following the release.
The oil and gas producer posted adjusted earnings of $3.64 per share, beating the consensus estimate of $3.45. Revenue came in at $3.71 billion, topping expectations of $3.55 billion.
Diamondback’s average daily oil production reached 475,924 barrels in Q4, up 74% YoY. Total (EPA:TTEF) production averaged 883,424 barrels of oil equivalent per day.
The company generated $1.36 billion in adjusted free cash flow during the quarter. It returned $694 million to shareholders through dividends and share repurchases, representing about 51% of adjusted free cash flow.
For 2025, Diamondback expects oil production of 485,000-498,000 barrels per day and total production of 883,000-909,000 barrels of oil equivalent per day. The company plans capital expenditures of $3.8-$4.2 billion.
The earnings beat and dividend hike helped drive the stock’s modest 1% gain in after-hours trading. Diamondback continues to benefit from its scale and prime acreage position in the Permian Basin.
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