Diamondback Energy, Inc. $FANG Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,014 shares of the oil and natural gas company’s stock after buying an additional 20,382 shares during the quarter. CIBC Asset Management Inc’s holdings in Diamondback Energy were worth $15,486,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners raised its holdings in Diamondback Energy by 2.9% in the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after acquiring an additional 163,548 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Diamondback Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after purchasing an additional 14,625 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Diamondback Energy by 11.5% during the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after purchasing an additional 532,756 shares during the last quarter. Capital Research Global Investors grew its position in shares of Diamondback Energy by 38.0% in the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock valued at $543,610,000 after purchasing an additional 1,046,398 shares during the period. Finally, Invesco Ltd. grew its position in shares of Diamondback Energy by 9.6% in the third quarter. Invesco Ltd. now owns 3,120,359 shares of the oil and natural gas company’s stock valued at $446,523,000 after purchasing an additional 274,331 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FANG. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler increased their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Finally, Morgan Stanley boosted their target price on shares of Diamondback Energy from $224.00 to $229.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.26.

Insider Buying and Selling

In related news, Director Charles Alvin Meloy sold 7,857 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the completion of the sale, the director directly owned 942,721 shares of the company’s stock, valued at approximately $178,362,813.20. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 86,321 shares of company stock valued at $16,386,359. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $202.94 on Friday. The company has a market cap of $57.09 billion, a price-to-earnings ratio of 235.98 and a beta of 0.42. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The stock’s 50-day moving average is $196.14 and its 200-day moving average is $173.58.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.54 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 19.54 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $1.10 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s payout ratio is presently 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.