Mackenzie Financial Corp Sells 55,473 Shares of Diamondback Energy, Inc. $FANG

Mackenzie Financial Corp trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 73.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,420 shares of the oil and natural gas company’s stock after selling 55,473 shares during the period. Mackenzie Financial Corp’s holdings in Diamondback Energy were worth $2,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Diamondback Energy by 1.7% in the second 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 purchasing an additional 388,512 shares during the period. Boston Partners raised its position in Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock valued at $766,914,000 after purchasing an additional 151,150 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Diamondback Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after buying an additional 142,649 shares during the period. Bank of New York Mellon Corp grew its position in shares of Diamondback Energy by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after buying an additional 384,971 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Diamondback Energy by 27.3% during 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 buying an additional 418,431 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.7%

Diamondback Energy stock opened at $159.51 on Friday. The stock has a 50-day moving average of $145.70 and a two-hundred day moving average of $143.34. The stock has a market cap of $45.68 billion, a PE ratio of 11.08 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $180.91.

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

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.5%. Diamondback Energy’s payout ratio is 27.80%.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research reports. Raymond James Financial lowered their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 20th. William Blair started coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $183.00 price objective on shares of Diamondback Energy in a research note on Thursday, November 20th. Roth Capital set a $162.00 price objective on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, KeyCorp dropped their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. One equities research analyst has 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 MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $186.95.

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.