Swiss National Bank Grows Holdings in Diamondback Energy, Inc. $FANG

Swiss National Bank increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,599 shares of the oil and natural gas company’s stock after purchasing an additional 31,000 shares during the period. Swiss National Bank’s holdings in Diamondback Energy were worth $108,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Flagship Harbor Advisors LLC purchased a new position in Diamondback Energy in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its position in shares of Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $26,000. Cedar Mountain Advisors LLC purchased a new stake in Diamondback Energy in the 1st quarter worth $26,000. Finally, JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the 3rd quarter worth $26,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Down 0.1%

Shares of NASDAQ:FANG opened at $195.38 on Tuesday. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The stock has a market cap of $54.96 billion, a P/E ratio of 227.19 and a beta of 0.42. The business’s 50 day moving average is $191.22 and its 200 day moving average is $181.32. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.54 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.14 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is 511.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Sanford C. Bernstein boosted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial reiterated a “strong-buy” rating and set a $249.00 price objective on shares of Diamondback Energy in a research report on Wednesday, June 10th. Wells Fargo & Company set a $212.00 target price on shares of Diamondback Energy in a report on Monday, June 22nd. Finally, Morgan Stanley lowered their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $218.26.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 113,691 shares of company stock worth $21,622,752 over the last quarter. Company insiders own 0.64% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.