Curi RMB Capital LLC Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Curi RMB Capital LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 46.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,643 shares of the oil and natural gas company's stock after purchasing an additional 22,458 shares during the period. Curi RMB Capital LLC's holdings in Diamondback Energy were worth $11,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Demars Financial Group LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at about $638,050,000. Raymond James Financial Inc. purchased a new position in Diamondback Energy in the 4th quarter valued at approximately $298,327,000. Assenagon Asset Management S.A. raised its holdings in Diamondback Energy by 1,153.0% in the fourth 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 in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of Diamondback Energy by 30.5% during 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 in the last quarter. Finally, Boston Partners lifted its stake in 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. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FANG shares. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Barclays dropped their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Truist Financial increased their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $202.13.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

NASDAQ:FANG traded down $0.83 on Wednesday, hitting $135.71. The company had a trading volume of 2,130,164 shares, compared to its average volume of 2,092,335. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week 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. The stock has a market capitalization of $39.91 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 1.24 and a beta of 1.44. The firm has a 50 day moving average of $146.28 and a two-hundred day moving average of $164.02.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. The business 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%. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.95%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is currently 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.