Zurcher Kantonalbank Zurich Cantonalbank Acquires 80,898 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 240.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,531 shares of the oil and natural gas company’s stock after purchasing an additional 80,898 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Diamondback Energy worth $17,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Emfo LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $155,000. Capital Analysts LLC grew its stake in Diamondback Energy by 10,064.4% in the fourth quarter. Capital Analysts LLC now owns 13,722 shares of the oil and natural gas company’s stock worth $2,128,000 after purchasing an additional 13,587 shares during the period. Legacy CG LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $4,970,000. Sentry Investment Management LLC grew its stake in shares of Diamondback Energy by 265.1% in the fourth quarter. Sentry Investment Management LLC now owns 3,735 shares of the oil and natural gas company’s stock worth $579,000 after acquiring an additional 2,712 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Diamondback Energy by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 105,363 shares of the oil and natural gas company’s stock worth $16,340,000 after acquiring an additional 2,855 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. KeyCorp increased their target price on Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Bank Of America (Bofa) cut their target price on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Finally, Piper Sandler increased their price objective on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.95.

Diamondback Energy Stock Down 0.8 %

NASDAQ FANG opened at $199.60 on Friday. The stock’s 50-day moving average price is $188.92 and its 200-day moving average price is $167.21. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The company has a market capitalization of $35.60 billion, a P/E ratio of 11.51 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company earned $5.29 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post 18.53 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by company insiders.

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.