Curi RMB Capital LLC Has $11.57 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Curi RMB Capital LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 46.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 70,643 shares of the oil and natural gas company’s stock after purchasing an additional 22,458 shares during the quarter. Curi RMB Capital LLC’s holdings in Diamondback Energy were worth $11,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $1,215,000. Fulcrum Equity Management acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth $206,000. Pine Valley Investments Ltd Liability Co increased its position in shares of Diamondback Energy by 11.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock worth $349,000 after purchasing an additional 205 shares during the period. World Investment Advisors LLC acquired a new position in Diamondback Energy in the third quarter valued at about $3,935,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Diamondback Energy during the third quarter worth about $138,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on FANG shares. Wells Fargo & Company decreased their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. UBS Group lowered their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley reissued an “overweight” rating on shares of Diamondback Energy in a report on Tuesday. Finally, Scotiabank reduced their price objective on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.13.

Diamondback Energy Stock Up 5.7 %

Shares of FANG opened at $137.64 on Friday. The company has a market capitalization of $40.48 billion, a PE ratio of 7.88, a PEG ratio of 1.24 and a beta of 1.44. The stock’s 50-day moving average price is $147.14 and its two-hundred day moving average price is $164.81. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. The business 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%. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current 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 dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. Diamondback Energy’s dividend payout ratio is 25.32%.

About Diamondback Energy

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.