Cibc World Markets Corp Acquires 6,644 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Cibc World Markets Corp lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,116 shares of the oil and natural gas company's stock after buying an additional 6,644 shares during the period. Cibc World Markets Corp's holdings in Diamondback Energy were worth $5,917,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FANG. Lakewood Asset Management LLC boosted its holdings in Diamondback Energy by 0.5% during 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 purchasing an additional 60 shares in the last quarter. West Family Investments Inc. boosted its holdings in Diamondback Energy by 3.4% during the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company's stock valued at $319,000 after purchasing an additional 61 shares in the last quarter. Magnolia Capital Advisors LLC grew its position in Diamondback Energy by 2.0% in the fourth 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 during the period. Barden Capital Management Inc. raised its stake in Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after acquiring an additional 64 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in Diamondback Energy by 2.4% during the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company's stock worth $482,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

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Insiders Place Their Bets

In related 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 price 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. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company's stock.

Diamondback Energy Trading Up 0.0 %

Diamondback Energy stock traded up $0.02 during mid-day trading on Friday, hitting $158.50. The stock had a trading volume of 7,798,113 shares, compared to its average volume of 1,874,546. The stock has a 50-day simple moving average of $160.47 and a two-hundred day simple moving average of $170.39. The stock has a market capitalization of $45.88 billion, a PE ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. 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 (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, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. 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 announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.52%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FANG shares. Barclays dropped their price objective on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price objective on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. UBS Group increased their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a "buy" rating and a $227.00 price objective for the company. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.92.

About Diamondback Energy

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.