Pictet Asset Management Holding SA Has $11.40 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Pictet Asset Management Holding SA boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 69,563 shares of the oil and natural gas company’s stock after buying an additional 7,790 shares during the period. Pictet Asset Management Holding SA’s holdings in Diamondback Energy were worth $11,397,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FANG. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. grew its holdings in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc increased its position in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. lifted its holdings in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ:FANG opened at $161.49 on Thursday. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s 50-day moving average is $157.61 and its 200-day moving average is $169.51. The company has a market capitalization of $46.74 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 1.24 and a beta of 1.85.

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

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s payout ratio is 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FANG shares. Barclays lowered their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler lowered their price objective 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. Morgan Stanley cut their target price on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Finally, Truist Financial raised their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.33.

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.