CIBC World Markets Inc. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the first quarter, Holdings Channel reports. The fund purchased 31,315 shares of the oil and natural gas company’s stock, valued at approximately $2,301,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vantage Consulting Group Inc bought a new stake in Diamondback Energy during the fourth quarter valued at $26,000. Contravisory Investment Management Inc. bought a new stake in Diamondback Energy during the first quarter valued at $26,000. Whittier Trust Co. raised its holdings in shares of Diamondback Energy by 63.9% during the first quarter. Whittier Trust Co. now owns 395 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 154 shares during the period. AJO LP acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $33,000. Finally, WASHINGTON TRUST Co acquired a new position in shares of Diamondback Energy during the first quarter valued at about $45,000. 88.85% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FANG opened at $86.99 on Friday. Diamondback Energy, Inc. has a 1 year low of $23.63 and a 1 year high of $92.11. The company has a quick ratio of 0.43, a current ratio of 0.46 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.74 billion, a PE ratio of -3.40 and a beta of 2.75. The business has a 50 day moving average price of $79.85.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 20th. Shareholders of record on Thursday, May 13th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, May 12th. Diamondback Energy’s dividend payout ratio is presently 52.63%.
Several equities analysts have recently weighed in on FANG shares. Raymond James reiterated a “buy” rating on shares of Diamondback Energy in a report on Tuesday, April 13th. TheStreet upgraded shares of Diamondback Energy from a “d+” rating to a “c-” rating in a report on Friday, March 12th. Susquehanna upped their price objective on shares of Diamondback Energy from $79.00 to $83.00 and gave the company a “positive” rating in a report on Wednesday, February 24th. Siebert Williams Shank reiterated a “buy” rating and set a $89.00 price objective on shares of Diamondback Energy in a report on Tuesday, April 13th. Finally, TD Securities upped their price objective on shares of Diamondback Energy from $98.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, May 4th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $88.13.
In other news, CEO Travis D. Stice sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,100 shares of the firm’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $89.78, for a total transaction of $98,758.00. Following the sale, the chief financial officer now owns 65,943 shares in the company, valued at approximately $5,920,362.54. The disclosure for this sale can be found here. Insiders sold a total of 68,000 shares of company stock worth $5,793,014 over the last quarter. Corporate insiders own 0.43% of the company’s stock.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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