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

Cibc World Markets Corp raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,116 shares of the oil and natural gas company’s stock after acquiring an additional 6,644 shares during the quarter. Cibc World Markets Corp’s holdings in Diamondback Energy were worth $5,917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FANG. Mutual of America Capital Management LLC lifted its holdings in shares of Diamondback Energy by 2.6% in the third quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock worth $3,982,000 after acquiring an additional 588 shares during the last quarter. Caprock Group LLC raised its holdings in Diamondback Energy by 3.0% in the 3rd quarter. Caprock Group LLC now owns 8,074 shares of the oil and natural gas company’s stock valued at $1,392,000 after buying an additional 237 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Diamondback Energy by 56.9% in the 3rd quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company’s stock valued at $786,000 after buying an additional 1,651 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Diamondback Energy in the 3rd quarter valued at approximately $105,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Diamondback Energy in the 3rd quarter valued at approximately $585,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Mizuho increased their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $157.60 on Thursday. 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 company has a fifty day simple moving average of $161.05 and a 200 day simple moving average of $170.85. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. The company has a market cap of $45.62 billion, a P/E ratio of 9.02, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share 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. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date 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 (DPR) is 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.