Diamondback Energy Inc FANG shares are trading higher by 5.62% at $134.66 after the company reported better-than-expected first-quarter EPS results and raised its quarterly dividend.

Diamondback Energy reported quarterly earnings of $5.20 per share which beat the analyst consensus estimate of $4.51. This EPS figure represents a marked increase over earnings of $2.30 per share from the same period last year. Revenue was up $1.22 billion from the same period last year.

Diamondback Energy also declared a first-quarter dividend of $0.70/share, up from $0.60/share.

See Also: Why Estee Lauder Stock Is Trading Lower Today

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin.

According to data from Benzinga Pro, Diamondback Energy has a 52-week high of $147.99 and a 52-week low of $65.93.