Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,597 shares of the oil and natural gas company’s stock after purchasing an additional 405 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Diamondback Energy were worth $5,996,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Diamondback Energy in the fourth quarter worth $29,000. UMB Bank n.a. increased its holdings in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc raised its position in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Smithfield Trust Co boosted its holdings in shares of Diamondback Energy by 37.8% during the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 85 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at about $67,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 3.0 %

NASDAQ FANG opened at $150.20 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The stock’s 50 day moving average is $162.00 and its 200 day moving average is $171.85. The stock has a market cap of $43.47 billion, a PE ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.66%. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FANG shares. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Finally, Truist Financial upped their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $211.92.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

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.