J. Safra Sarasin Holding AG Has $577,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

J. Safra Sarasin Holding AG cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 56.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,520 shares of the oil and natural gas company's stock after selling 4,583 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Diamondback Energy were worth $577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Diamondback Energy during the third quarter valued at $1,215,000. Fulcrum Equity Management acquired a new stake in shares of Diamondback Energy in the third quarter worth $206,000. Pine Valley Investments Ltd Liability Co boosted its holdings in Diamondback Energy by 11.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company's stock valued at $349,000 after acquiring an additional 205 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at about $3,935,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $138,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

FANG has been the subject of a number of research reports. Bank of America upgraded Diamondback Energy from a "neutral" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Piper Sandler decreased their target price on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Scotiabank lowered their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of "Buy" and a consensus price target of $199.00.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Trading Down 0.5 %

Shares of NASDAQ FANG traded down $0.75 during midday trading on Tuesday, reaching $137.07. 504,027 shares of the stock were exchanged, compared to its average volume of 2,093,216. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The business has a 50-day simple moving average of $144.59 and a two-hundred day simple moving average of $162.17. The company has a market capitalization of $40.31 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is 25.32%.

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.