Swiss National Bank Sells 22,500 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Swiss National Bank lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. raised its position in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Key Financial Inc lifted its stake in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after acquiring an additional 188 shares during the period. Rakuten Securities Inc. boosted its holdings in Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Smithfield Trust Co increased its position in Diamondback Energy by 37.8% in the fourth quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company's stock worth $50,000 after purchasing an additional 85 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FANG. 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 research report on Thursday, March 13th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Raymond James dropped their price objective on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 12th. Finally, Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy has a consensus rating of "Moderate Buy" and an average target price of $209.92.

Diamondback Energy Stock Up 1.7 %

Shares of Diamondback Energy stock traded up $2.60 on Wednesday, reaching $157.60. 2,973,476 shares of the company were exchanged, compared to its average volume of 1,842,394. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $161.32 and a 200 day moving average of $170.94. The company has a market capitalization of $45.62 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

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.