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

Key Points

• Zurcher Kantonalbank trimmed its stake in Diamondback Energy by 59.8% in Q4, selling 68,937 shares and leaving 46,253 shares valued at about $6.95 million.
• Company insiders have sold large positions recently — 1,217,069 shares worth roughly $201.2 million in the last 90 days — including EVP Matt Zmigrosky and Director Charles Alvin Meloy (the latter sold under a Rule 10b5‑1 plan).
• Diamondback missed Q4 expectations with EPS of $1.74 vs. $2.00 and revenue down 9% year‑over‑year, yet it raised its quarterly dividend to $1.05 (annualized $4.20, ~2.1% yield).

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 59.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,253 shares of the oil and natural gas company's stock after selling 68,937 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Diamondback Energy were worth $6,953,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. boosted its position 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 purchasing an additional 125 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the third quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its position 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 purchasing an additional 102 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Diamondback Energy during the third quarter worth approximately $31,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, EVP Matt Zmigrosky sold 4,101 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $190.51, for a total value of $781,281.51. Following the completion of the sale, the executive vice president owned 56,392 shares of the company's stock, valued at approximately $10,743,239.92. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $193.93, for a total value of $1,523,708.01. Following the completion of the sale, the director directly owned 958,435 shares of the company's stock, valued at approximately $185,869,299.55. This represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,217,069 shares of company stock valued at $201,213,109. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $195.59 on Friday. The company has a market cap of $55.02 billion, a PE ratio of 34.86 and a beta of 0.50. The stock's 50 day simple moving average is $184.49 and its 200-day simple moving average is $162.23. Diamondback Energy, Inc. has a 1-year low of $127.75 and a 1-year high of $204.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.42 and a quick ratio of 0.40.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.26). The firm had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The business's revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.67 EPS. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 16.65 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Benchmark downgraded Diamondback Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 5th. TD Cowen upgraded Diamondback Energy to a "strong-buy" rating in a research report on Monday, February 9th. Citigroup increased their price target on Diamondback Energy from $178.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, March 30th. Roth Mkm reiterated a "neutral" rating and set a $200.00 price target (up from $180.00) on shares of Diamondback Energy in a research report on Wednesday, April 8th. Finally, Wall Street Zen downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday, December 27th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $207.95.

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.

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