Diamondback Energy’s Review Following Recent Acquisitions
<p>RBC Capital updated its outlook on <a href='https://financialmodelingprep.com/financial-summary/FANG'>Diamondback Energy, Inc. (NASDAQ:FANG)</a> following a couple of meaningful acquisitions over the past month that when combined were 7-9% accretive to their 2023/2024 per share estimates and fairly neutral to overall inventory depth. </p>
<p>According to the analysts, the Firebird and Lario transactions both should allow the company to increase its shareholder payouts over the next couple of years. Firebird was 3-4% accretive to their estimates while Lario was 4-5% accretive. </p>
<p>The company's shareholder return proposition is at least 75% of free cash flow in the form of fixed dividends, variable dividends, and stock buybacks. The analysts believe this amounts to a $15/share total 2023 calendar return, up 7-8% year-over-year.</p>

NASDAQ:FANG