CIBC Private Wealth Group LLC Has $41.83 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

CIBC Private Wealth Group LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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.

A number of other hedge funds have also recently bought and sold shares of FANG. Lakewood Asset Management LLC lifted its stake in shares of Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after buying an additional 60 shares during the period. Magnolia Capital Advisors LLC raised its holdings in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after acquiring an additional 64 shares in the last quarter. Barden Capital Management Inc. grew its holdings in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after purchasing an additional 64 shares in the last quarter. Greenleaf Trust increased its position in shares of Diamondback Energy by 1.0% during the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock valued at $1,129,000 after purchasing an additional 66 shares during the period. Finally, Buckhead Capital Management LLC raised its stake in shares of Diamondback Energy by 0.3% in the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock valued at $3,249,000 after purchasing an additional 67 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy 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 completion of the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 12.7 %

Diamondback Energy stock traded down $17.91 during mid-day trading on Friday, hitting $123.37. The stock had a trading volume of 5,423,563 shares, compared to its average volume of 2,004,450. Diamondback Energy, Inc. has a 12 month low of $123.15 and a 12 month high of $214.50. The stock has a 50-day simple moving average of $155.91 and a two-hundred day simple moving average of $168.96. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $35.71 billion, a PE ratio of 7.06, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates 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 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 paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.24%. Diamondback Energy's dividend payout ratio is 25.32%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FANG. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Piper Sandler lowered their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered their price objective on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Barclays cut their target price on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $209.33.

Diamondback Energy 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.