Diamondback Energy Extends Credit Agreement and Raises Dividend

Diamondback Energy, Inc. (NASDAQ:FANG) is one of the best dividend stocks according to Jim Cramer.

The company amended its Credit Agreement with Wells Fargo Bank on June 12, 2025. With the interest rates and certain fees reduced, the maturity date has been postponed to June 12, 2030.

A pipeline worker overseeing the flow of crude oil into storage tanks from an integrated water system.

Diamondback Energy, Inc. (NASDAQ:FANG) is a Texas-based independent oil and natural gas company, engaged in the business of hydrocarbon exploration. The focus of the company is on acquiring, developing, exploring, and exploiting unconventional, onshore oil and natural gas reserves, primarily in the Permian Basin in West Texas.

With a market cap of $43.55 billion, Diamondback Energy, Inc. (NASDAQ:FANG) has announced an extension to its credit agreement on Thursday. The company’s existing credit facility had a maturity date of June 2, 2028. By successfully amending its credit terms with its lenders, the company has managed to extend the maturity date to June 12, 2030. The company’s subsidiary, Viper Energy, saw its board approve a 10% increase in base dividends after a $4.1 billion all-stock acquisition of Sitio Royalties Corp.

Following these developments, Wells Fargo reiterated their Buy rating for the stock on June 16, 2025, with a price target of $208.

Diamondback Energy, Inc. (NASDAQ:FANG) offers a dividend yield of 3.51%, with a payout ratio of 38.62%, signaling a self-sufficiency in meeting the dividend obligations. The company has had a consistent dividend payment record since 2018.

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