Swiss National Bank Has $85.58 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Key Points

• The Swiss National Bank reduced its position in Diamondback Energy, holding 535,299 shares worth approximately $85.58 million after selling 2,300 shares in the first quarter.
• Diamondback Energy recently announced a quarterly dividend of $1.00 per share, equating to an annualized dividend of $4.00 and a yield of 2.8%.
• Institutional investors now own 90.01% of Diamondback Energy's stock, highlighting strong institutional interest in the company.

Swiss National Bank trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 535,299 shares of the oil and natural gas company's stock after selling 2,300 shares during the period. Swiss National Bank owned approximately 0.18% of Diamondback Energy worth $85,584,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC raised its position in shares of Diamondback Energy by 20.1% during the fourth quarter. Advisory Services Network LLC now owns 14,273 shares of the oil and natural gas company's stock valued at $2,338,000 after buying an additional 2,386 shares during the last quarter. F M Investments LLC raised its position in shares of Diamondback Energy by 28.8% during the fourth quarter. F M Investments LLC now owns 13,342 shares of the oil and natural gas company's stock valued at $2,186,000 after buying an additional 2,987 shares during the last quarter. Scotia Capital Inc. raised its position in shares of Diamondback Energy by 13.7% during the fourth quarter. Scotia Capital Inc. now owns 17,094 shares of the oil and natural gas company's stock valued at $2,801,000 after buying an additional 2,063 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Diamondback Energy by 6.7% during the fourth quarter. Sterling Capital Management LLC now owns 46,500 shares of the oil and natural gas company's stock valued at $7,618,000 after buying an additional 2,915 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Diamondback Energy by 8.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 264,114 shares of the oil and natural gas company's stock valued at $43,280,000 after buying an additional 20,670 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This trade represents a 16.65% 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. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FANG. UBS Group cut their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, July 15th. KeyCorp cut their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Susquehanna dropped their price target on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and an average price target of $191.59.

Diamondback Energy Price Performance

Shares of FANG traded down $5.19 during mid-day trading on Monday, hitting $136.84. 3,042,377 shares of the company traded hands, compared to its average volume of 2,058,223. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $202.87. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average of $143.66 and a 200 day moving average of $145.25. The stock has a market capitalization of $39.61 billion, a price-to-earnings ratio of 9.73 and a beta of 1.09.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the company earned $4.52 earnings per share. Diamondback Energy's revenue for the quarter was up 48.1% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. Diamondback Energy's dividend payout ratio (DPR) is presently 28.43%.

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.