Cibc World Market Inc. Has $21.76 Million Stock Holdings in Diamondback Energy, Inc. $FANG

Cibc World Market Inc. increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 87.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,778 shares of the oil and natural gas company’s stock after buying an additional 67,715 shares during the period. Cibc World Market Inc.’s holdings in Diamondback Energy were worth $21,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FANG. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $25,000. JPL Wealth Management LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its stake in shares of Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $26,000. Finally, Wellington Shields & Co. LLC boosted its stake in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Steven E. West sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the completion of the transaction, the director owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. This trade represents a 57.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matt Zmigrosky sold 20,899 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the transaction, the executive vice president directly owned 60,493 shares of the company’s stock, valued at $10,888,740. This represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 86,321 shares of company stock valued at $16,386,359 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $192.62 on Friday. The company has a market cap of $54.19 billion, a price-to-earnings ratio of 223.98 and a beta of 0.42. The company has a 50-day moving average price of $196.07 and a 200-day moving average price of $173.72. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the firm earned $4.54 earnings per share. Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.54 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a $1.10 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Diamondback Energy’s payout ratio is currently 511.63%.

Trending Headlines about Diamondback Energy

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target.
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Truist Financial set a $242.00 price target on shares of Diamondback Energy in a report on Wednesday, May 6th. Roth Mkm reaffirmed a “neutral” rating and issued a $205.00 price target on shares of Diamondback Energy in a report on Tuesday, May 5th. Mizuho lifted their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Barclays boosted their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.26.

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.