10 Energy Stocks with Fat Dividends

6. Diamondback Energy, Inc. (NASDAQ:FANG)

Dividend Yield as of April 18: 4.51%

Diamondback Energy, Inc. (NASDAQ:FANG) is a Texas-based independent oil and natural gas company, focused on the acquisition, development, exploration, and exploitation of unconventional, onshore oil and natural gas reserves in West Texas. The company completed its merger with Endeavor Energy Resources last year, creating a leading operator focused on the Permian Basin.

Diamondback Energy, Inc. (NASDAQ:FANG) had a strong Q4 2024 as its adjusted EPS of $3.64 topped market expectations by $0.26. The company’s revenue also grew by a significant 66.56% YoY to $3.71 billion, beating estimates by $161.67 million. Diamondback’s net cash provided by operating activities was $6.4 billion in FY 2024, while its free cash flow for the year came in at $3.6 billion.

Diamondback Energy, Inc. (NASDAQ:FANG) continues to expand its portfolio and announced earlier this year that it has entered into a definitive purchase agreement to acquire certain subsidiaries of Double Eagle IV Midco LLC. The deal, valued at just over $4 billion, added 27,000 barrels per day of net oil production plus 40,000 net acres in the Midland Basin of the Permian.

Diamondback Energy, Inc. (NASDAQ:FANG) has been consistently growing its dividend for the last few years and recently increased its quarterly dividend by 11.1% to $1 per share.