Mediolanum International Funds Ltd Has $857,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Mediolanum International Funds Ltd lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 35.5% during the 1st quarter, HoldingsChannel reports. The firm owned 5,441 shares of the oil and natural gas company’s stock after selling 2,989 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Diamondback Energy were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Robeco Institutional Asset Management B.V. boosted its position in shares of Diamondback Energy by 4.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock valued at $5,784,000 after acquiring an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Diamondback Energy by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock valued at $9,409,000 after acquiring an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after acquiring an additional 2,397 shares during the period. SevenBridge Financial Group LLC boosted its position in shares of Diamondback Energy by 10.8% in the fourth quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company’s stock valued at $3,303,000 after acquiring an additional 1,990 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of Diamondback Energy by 49.7% in the fourth quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company’s stock valued at $1,608,000 after acquiring an additional 3,261 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the sale, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James Financial increased their price objective on Diamondback Energy from $204.00 to $221.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 22nd. Susquehanna lowered their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lowered their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada initiated coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price on the stock. Finally, KeyCorp dropped their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average price target of $191.59.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $150.52 on Tuesday. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $203.98. The firm has a market cap of $43.98 billion, a PE ratio of 9.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The business has a fifty day moving average of $141.87 and a 200-day moving average of $147.51.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company posted $4.50 earnings per share. The firm’s quarterly revenue was up 81.8% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.66%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Diamondback Energy 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.