Mediolanum International Funds Ltd Lowers Stock Holdings in Diamondback Energy, Inc. $FANG

Mediolanum International Funds Ltd cut its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,074 shares of the oil and natural gas company’s stock after selling 367 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Diamondback Energy were worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after acquiring an additional 388,512 shares during the period. Boston Partners lifted its position in shares of Diamondback Energy by 2.6% during the second quarter. Boston Partners now owns 5,562,216 shares of the oil and natural gas company’s stock worth $765,846,000 after purchasing an additional 143,376 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 2.7% in the second quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after purchasing an additional 142,649 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 9.0% in the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after purchasing an additional 384,971 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Diamondback Energy by 27.3% in the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after purchasing an additional 418,431 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $146.44 on Monday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $41.96 billion, a PE ratio of 10.18 and a beta of 0.99. The business’s fifty day moving average price is $143.49 and its 200 day moving average price is $142.65.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the business earned $3.19 EPS. Diamondback Energy’s revenue for the quarter was up 48.4% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s dividend payout ratio is currently 27.80%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent research reports. Melius started coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. KeyCorp decreased their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Wall Street Zen raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. William Blair assumed coverage on Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Susquehanna decreased their price objective on Diamondback Energy to $188.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $188.77.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.