Mountain Hill Investment Partners Corp. Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Mountain Hill Investment Partners Corp. bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,500 shares of the oil and natural gas company's stock, valued at approximately $560,000. Diamondback Energy accounts for about 0.5% of Mountain Hill Investment Partners Corp.'s holdings, making the stock its 24th largest holding.

Several other hedge funds have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its holdings in 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 worth $5,784,000 after acquiring an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in 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 worth $9,409,000 after acquiring an additional 3,467 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Diamondback Energy by 50.4% during 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 purchasing an additional 2,397 shares in the last quarter. SevenBridge Financial Group LLC grew its stake in shares of Diamondback Energy by 10.8% during the 4th 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 purchasing an additional 1,990 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Diamondback Energy by 49.7% during the 4th quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock valued at $1,608,000 after purchasing an additional 3,261 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent research reports. KeyCorp cut their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Susquehanna cut their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI assumed coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 target price for the company. Mizuho cut their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Bank of America increased their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and a consensus target price of $193.35.

Diamondback Energy Trading Down 1.6%

Shares of NASDAQ:FANG opened at $141.96 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The business's fifty day simple moving average is $141.26 and its 200-day simple moving average is $149.35. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $41.48 billion, a PE ratio of 8.68 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the previous year, the business earned $4.50 EPS. The firm's revenue for the quarter was up 81.8% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.82%. Diamondback Energy's payout ratio is presently 24.46%.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% 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.

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