CIBC Private Wealth Group LLC Sells 35,738 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,608 shares of the oil and natural gas company’s stock after selling 35,738 shares during the period. CIBC Private Wealth Group LLC owned about 0.08% of Diamondback Energy worth $41,825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. State Street Corp grew its position in Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after acquiring an additional 149,871 shares during the last quarter. Boston Partners boosted its stake 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 valued at $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC boosted its stake in shares of Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of 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 buying an additional 658,644 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $157.54 on Monday. The business has a fifty day moving average price of $158.66 and a 200-day moving average price of $169.73. 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 company has a market capitalization of $45.60 billion, a PE ratio of 9.02, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share 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%. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given 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 annualized dividend and a yield of 2.54%. Diamondback Energy’s dividend payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Mizuho increased their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Finally, UBS Group boosted their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four investment 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

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.