Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 244,608 shares of the oil and natural gas company's stock after selling 35,738 shares during the quarter. CIBC Private Wealth Group LLC owned 0.08% of Diamondback Energy worth $41,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Diamondback Energy in the 4th quarter worth about $298,327,000. Assenagon Asset Management S.A. boosted its holdings in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after acquiring an additional 1,042,505 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after purchasing an additional 658,644 shares during the period. Boston Partners lifted its position in shares of Diamondback Energy by 12.4% during the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Diamondback Energy in the third quarter worth about $87,924,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.48% of the company's stock.

Diamondback Energy Trading Down 11.5 %

NASDAQ FANG traded down $18.51 on Thursday, reaching $142.98. The stock had a trading volume of 3,313,913 shares, compared to its average volume of 1,978,867. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $157.61 and a two-hundred day moving average price of $169.51. The firm has a market capitalization of $41.38 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. Diamondback Energy's payout ratio is 25.32%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup reduced their target price on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Piper Sandler decreased their price objective on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Morgan Stanley lowered their price target on shares of Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Raymond James lowered their price objective on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of "Moderate Buy" and a consensus target price of $209.33.

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.