Swiss National Bank Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Swiss National Bank lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 537,599 shares of the oil and natural gas company’s stock after selling 22,500 shares during the period. Swiss National Bank owned 0.18% of Diamondback Energy worth $88,075,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Lakewood Asset Management LLC boosted its position in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares in the last quarter. West Family Investments Inc. increased its stake in Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after purchasing an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC increased its stake in Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. raised its holdings in Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

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

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.66%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s payout ratio is presently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Raymond James cut their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Williams Trading set a $190.00 target price on Diamondback Energy in a report on Wednesday, March 5th. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has an average 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.