Swiss National Bank Buys 58,500 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Swiss National Bank increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 560,099 shares of the oil and natural gas company's stock after buying an additional 58,500 shares during the period. Swiss National Bank owned 0.19% of Diamondback Energy worth $96,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FANG. Price T Rowe Associates Inc. MD grew its stake in Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after buying an additional 2,381,488 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 16.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock worth $603,038,000 after purchasing an additional 415,902 shares during the last quarter. Boston Partners boosted its stake in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock valued at $541,844,000 after purchasing an additional 1,916,900 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company's stock valued at $538,547,000 after buying an additional 247,065 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Diamondback Energy by 7.1% in the second quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company's stock valued at $495,236,000 after acquiring an additional 164,732 shares during the period. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup assumed coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a "neutral" rating and a $195.00 price objective for the company. Jefferies Financial Group began coverage on Diamondback Energy in a research report on Monday, September 16th. They set a "hold" rating and a $185.00 price target on the stock. Piper Sandler lifted their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an "overweight" rating and a $182.00 target price on the stock. Finally, StockNews.com upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $212.00.

Diamondback Energy Trading Down 1.1 %

NASDAQ:FANG traded down $1.99 on Tuesday, reaching $179.91. 976,492 shares of the stock traded hands, compared to its average volume of 1,750,163. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company's 50 day moving average is $181.22 and its 200-day moving average is $191.22. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.49 earnings per share. Equities research analysts anticipate that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, November 14th. Diamondback Energy's dividend payout ratio is 20.61%.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company's stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate 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.