Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 0.2% during the third quarter, HoldingsChannel.com reports. The firm owned 221,753 shares of the oil and natural gas company’s stock after buying an additional 471 shares during the period. CIBC Private Wealth Group LLC’s holdings in Diamondback Energy were worth $26,713,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Diamondback Energy by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 21,771,852 shares of the oil and natural gas company’s stock valued at $2,622,637,000 after purchasing an additional 584,025 shares in the last quarter. State Street Corp raised its position in shares of Diamondback Energy by 7.0% in the 3rd quarter. State Street Corp now owns 11,524,297 shares of the oil and natural gas company’s stock valued at $1,388,217,000 after purchasing an additional 755,625 shares in the last quarter. FMR LLC raised its position in shares of Diamondback Energy by 9.8% in the 2nd quarter. FMR LLC now owns 8,686,863 shares of the oil and natural gas company’s stock valued at $1,052,413,000 after purchasing an additional 775,843 shares in the last quarter. Boston Partners raised its position in shares of Diamondback Energy by 1.4% in the 3rd quarter. Boston Partners now owns 3,383,551 shares of the oil and natural gas company’s stock valued at $408,686,000 after purchasing an additional 46,024 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Diamondback Energy by 18.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,685,441 shares of the oil and natural gas company’s stock valued at $323,487,000 after purchasing an additional 412,521 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.8 %

NASDAQ:FANG opened at $132.64 on Wednesday. Diamondback Energy, Inc. has a 1 year low of $103.71 and a 1 year high of $168.95. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.28 and a beta of 2.03. The business has a fifty day moving average of $142.38 and a 200-day moving average of $141.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.77 and a current ratio of 0.81.

Diamondback Energy (NASDAQ:FANG – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The oil and natural gas company reported $5.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.20 by $0.09. Diamondback Energy had a return on equity of 29.29% and a net margin of 45.48%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the business posted $3.63 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 22.24 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, March 3rd were paid a $2.95 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $11.80 annualized dividend and a dividend yield of 8.90%. Diamondback Energy’s payout ratio is 12.99%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FANG shares. Piper Sandler cut their target price on Diamondback Energy from $214.00 to $207.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. KeyCorp lowered their price target on Diamondback Energy from $182.00 to $171.00 and set an “overweight” rating for the company in a report on Thursday, December 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $182.00 price target on shares of Diamondback Energy in a report on Wednesday, March 8th. MKM Partners boosted their price target on Diamondback Energy to $170.00 in a report on Tuesday, November 15th. Finally, Truist Financial boosted their price target on Diamondback Energy from $203.00 to $209.00 and gave the company a “buy” rating in a report on Friday, November 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.65.

Insider Transactions at Diamondback Energy

In other news, VP Matt Zmigrosky sold 2,012 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $136.96, for a total value of $275,563.52. Following the completion of the transaction, the vice president now owns 23,623 shares of the company’s stock, valued at $3,235,406.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

About Diamondback Energy

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Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.