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

Mediolanum International Funds Ltd lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Creekmur Asset Management LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at $28,000. SouthState Corp grew its holdings in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 167 shares in the last quarter. Eastern Bank raised its position in shares of Diamondback Energy by 119.8% in the first quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock valued at $37,000 after buying an additional 127 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Diamondback Energy in the first quarter worth about $43,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Diamondback Energy by 49.6% in the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 122 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FANG shares. Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company increased their price target on Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Melius Research assumed coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Mizuho dropped their target price on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Evercore ISI raised their target price on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $188.77.

Diamondback Energy Trading Up 0.1%

Shares of Diamondback Energy stock opened at $146.44 on Monday. The stock has a 50 day moving average of $143.49 and a 200 day moving average of $142.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a market capitalization of $41.96 billion, a price-to-earnings ratio of 10.18 and a beta of 0.99. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $186.07.

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

Diamondback Energy Dividend Announcement

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

Diamondback Energy Company Profile

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.