Swiss National Bank Has $82.38 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Swiss National Bank trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 531,199 shares of the oil and natural gas company’s stock after selling 22,200 shares during the period. Swiss National Bank owned 0.30% of Diamondback Energy worth $82,378,000 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 the company. Wellington Management Group LLP raised its holdings in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after purchasing an additional 648,317 shares during the period. Morgan Stanley boosted its stake in shares of Diamondback Energy by 2.6% during the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after acquiring an additional 89,663 shares during the period. Invesco Ltd. increased its holdings in shares of Diamondback Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after acquiring an additional 206,189 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares during the period. Finally, Northern Trust Corp lifted its holdings in Diamondback Energy by 0.6% during the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock valued at $309,695,000 after purchasing an additional 12,237 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FANG has been the topic of several research reports. Barclays started coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. Stifel Nicolaus increased their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. StockNews.com upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Thursday. Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Finally, KeyCorp upped their price objective on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.37.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $201.50 on Friday. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The stock has a market capitalization of $35.94 billion, a price-to-earnings ratio of 11.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.74. The company’s 50 day simple moving average is $195.49 and its 200 day simple moving average is $170.81.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the company posted $4.10 EPS. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, research analysts predict that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

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

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were 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 $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated 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 sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total value of $969,700.00. Following the completion of the transaction, the executive vice president now directly owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by insiders.

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.