Curi RMB Capital LLC Buys 22,458 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Curi RMB Capital LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 46.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,643 shares of the oil and natural gas company’s stock after buying an additional 22,458 shares during the quarter. Curi RMB Capital LLC’s holdings in Diamondback Energy were worth $11,573,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FANG. Epoch Investment Partners Inc. increased its holdings in shares of Diamondback Energy by 8.0% during the fourth quarter. Epoch Investment Partners Inc. now owns 332,416 shares of the oil and natural gas company’s stock worth $54,460,000 after buying an additional 24,487 shares in the last quarter. Forum Financial Management LP raised its position in Diamondback Energy by 64.8% in the 4th quarter. Forum Financial Management LP now owns 4,960 shares of the oil and natural gas company’s stock valued at $813,000 after purchasing an additional 1,951 shares during the last quarter. Freedom Investment Management Inc. grew its holdings in shares of Diamondback Energy by 10.0% during the fourth quarter. Freedom Investment Management Inc. now owns 5,887 shares of the oil and natural gas company’s stock worth $964,000 after purchasing an additional 535 shares during the last quarter. HITE Hedge Asset Management LLC raised its holdings in shares of Diamondback Energy by 514.9% in the fourth quarter. HITE Hedge Asset Management LLC now owns 260,566 shares of the oil and natural gas company’s stock valued at $42,689,000 after buying an additional 218,189 shares during the last quarter. Finally, GeoWealth Management LLC lifted its position in Diamondback Energy by 69.9% during the 4th quarter. GeoWealth Management LLC now owns 3,072 shares of the oil and natural gas company’s stock worth $503,000 after buying an additional 1,264 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $137.64 on Friday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a market cap of $40.48 billion, a P/E ratio of 7.88, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock’s 50-day simple moving average is $147.14 and its 200 day simple moving average is $164.81.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James decreased their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a research note on Tuesday. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. Finally, Truist Financial lifted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.13.

Diamondback Energy 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.