Swiss National Bank Trims Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Swiss National Bank cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 531,199 shares of the oil and natural gas company’s stock after selling 22,200 shares during the quarter. Swiss National Bank’s holdings in Diamondback Energy were worth $82,378,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FANG. BKM Wealth Management LLC purchased a new position in shares of Diamondback Energy in the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in Diamondback Energy in the third quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Diamondback Energy during the fourth quarter valued at $34,000. CVA Family Office LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $35,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of Diamondback Energy by 559.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after buying an additional 218 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Performance

FANG stock opened at $201.50 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a market cap of $35.94 billion, a P/E ratio of 11.36 and a beta of 1.91. The stock’s fifty day moving average price is $195.49 and its 200-day moving average price is $170.81.

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 (EPS) for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the firm posted $4.10 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 18.91 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.79%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Barclays started coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target on the stock. Susquehanna raised their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho boosted their target price on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, BMO Capital Markets increased their target price on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $204.37.

Insider Buying and Selling at Diamondback Energy

In other news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,675 shares of company stock valued at $11,311,096. Insiders own 0.43% of the company’s stock.

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.