Diamondback Energy, Inc. $FANG Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 59.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 46,253 shares of the oil and natural gas company’s stock after selling 68,937 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Diamondback Energy were worth $6,953,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter worth $25,000. Richardson Financial Services Inc. increased its stake in 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. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the third quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Diamondback Energy by 106.3% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 102 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in Diamondback Energy during the third quarter worth $31,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen cut Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Sanford C. Bernstein dropped their price objective on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Citigroup lifted their price objective on Diamondback Energy from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Mizuho lifted their price objective on Diamondback Energy from $205.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Finally, UBS Group lifted their price objective on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $207.95.

Diamondback Energy Trading Up 0.9%

Shares of NASDAQ FANG opened at $195.59 on Friday. Diamondback Energy, Inc. has a twelve month low of $127.75 and a twelve month high of $204.91. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $184.49 and a 200-day simple moving average of $162.23. The stock has a market capitalization of $55.02 billion, a PE ratio of 34.86 and a beta of 0.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 earnings per share. On average, equities analysts forecast that Diamondback Energy, Inc. will post 16.65 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.1%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is 74.87%.

Insider Transactions at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 20,899 shares of Diamondback Energy stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president directly owned 60,493 shares in the company, valued at approximately $10,888,740. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven E. West sold 6,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the transaction, the director owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. This trade represents a 57.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,217,069 shares of company stock valued at $201,213,109 in the last 90 days. Insiders own 0.70% 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.