Mediolanum International Funds Ltd Sells 184 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mediolanum International Funds Ltd lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,414 shares of the oil and natural gas company’s stock after selling 184 shares during the period. Mediolanum International Funds Ltd’s holdings in Diamondback Energy were worth $4,500,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FANG. First Community Trust NA purchased a new position in Diamondback Energy in the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC increased its stake in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy during the 2nd quarter valued at $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. Finally, Founders Capital Management grew its holdings in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FANG. Benchmark increased their target price on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. KeyCorp decreased their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Sanford C. Bernstein cut their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Piper Sandler upped their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Trading Up 1.9 %

Shares of NASDAQ FANG opened at $184.38 on Friday. The firm’s 50 day moving average price is $184.90 and its 200-day moving average price is $194.10. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market cap of $54.34 billion, a PE ratio of 9.53, a P/E/G ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business posted $3.68 EPS. The company’s revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 17.37 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a yield of 1.9%. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 18.60%.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

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.