Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 37.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,612 shares of the oil and natural gas company's stock after buying an additional 21,313 shares during the quarter. CIBC Asset Management Inc's holdings in Diamondback Energy were worth $12,715,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its holdings in shares of Diamondback Energy by 1,153.0% in 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 buying an additional 1,042,505 shares during the period. Zimmer Partners LP purchased a new position in Diamondback Energy during the 3rd quarter valued at about $87,924,000. Holocene Advisors LP boosted its holdings in Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company's stock valued at $161,793,000 after acquiring an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after acquiring an additional 439,579 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company's stock valued at $58,620,000 after purchasing an additional 338,050 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analyst Weigh In

FANG has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a "buy" rating and a $227.00 price objective for the company. Mizuho decreased their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $216.52.

Diamondback Energy Trading Down 3.7 %

FANG stock traded down $5.97 on Friday, hitting $156.12. 3,935,348 shares of the company were exchanged, compared to its average volume of 2,088,174. The stock has a market capitalization of $45.59 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.22 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business's fifty day moving average is $165.74 and its two-hundred day moving average is $176.96. Diamondback Energy, Inc. has a twelve month low of $152.00 and a twelve month high of $214.50.

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.