Swiss National Bank Has $100.93 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Swiss National Bank lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 509,299 shares of the oil and natural gas company’s stock after selling 21,900 shares during the quarter. Swiss National Bank owned 0.29% of Diamondback Energy worth $100,928,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after acquiring an additional 176,208 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Diamondback Energy by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,596,427 shares of the oil and natural gas company’s stock valued at $514,534,000 after acquiring an additional 83,883 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Diamondback Energy by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock valued at $343,296,000 after acquiring an additional 188,590 shares in the last quarter. Yacktman Asset Management LP boosted its holdings in shares of Diamondback Energy by 4.5% during the 4th quarter. Yacktman Asset Management LP now owns 1,520,447 shares of the oil and natural gas company’s stock valued at $235,791,000 after acquiring an additional 65,524 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Diamondback Energy by 11.5% during the 1st quarter. Raymond James & Associates now owns 1,094,071 shares of the oil and natural gas company’s stock valued at $216,812,000 after acquiring an additional 112,787 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.5 %

FANG stock traded up $0.96 during mid-day trading on Monday, reaching $205.13. 31,812 shares of the company traded hands, compared to its average volume of 1,593,438. Diamondback Energy, Inc. has a fifty-two week low of $134.68 and a fifty-two week high of $211.96. The firm’s 50 day moving average price is $197.09 and its 200 day moving average price is $185.14. The stock has a market cap of $36.58 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.12 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the business earned $4.10 EPS. The company’s revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 18.8 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.75%. Diamondback Energy’s payout ratio is presently 20.29%.

Insider Transactions at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at approximately $13,736,123.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent research reports. Mizuho raised their price objective on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a report on Monday, May 13th. Piper Sandler lifted their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Evercore ISI lifted their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Wells Fargo & Company cut their target price on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Scotiabank cut their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.85.

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.