Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 537,599 shares of the oil and natural gas company’s stock after selling 22,500 shares during the quarter. Swiss National Bank’s holdings in Diamondback Energy were worth $88,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in shares of Diamondback Energy by 10.3% during the third quarter. Apollon Wealth Management LLC now owns 2,695 shares of the oil and natural gas company’s stock valued at $465,000 after buying an additional 251 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Diamondback Energy by 3.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 433,607 shares of the oil and natural gas company’s stock worth $74,754,000 after purchasing an additional 16,348 shares during the last quarter. Haverford Trust Co grew its position in shares of Diamondback Energy by 4.6% in the third quarter. Haverford Trust Co now owns 1,598 shares of the oil and natural gas company’s stock valued at $275,000 after purchasing an additional 71 shares during the period. KBC Group NV increased its stake in Diamondback Energy by 11.8% in the third quarter. KBC Group NV now owns 14,512 shares of the oil and natural gas company’s stock valued at $2,501,000 after purchasing an additional 1,531 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its position in Diamondback Energy by 2.2% during the third quarter. Curi RMB Capital LLC now owns 48,185 shares of the oil and natural gas company’s stock worth $8,307,000 after buying an additional 1,053 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 3.0 %

NASDAQ:FANG opened at $150.20 on Friday. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The business’s 50-day simple moving average is $162.00 and its 200 day simple moving average is $171.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $43.47 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.66%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

FANG has been the subject of a number of research analyst reports. Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.92.

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.