CIBC Asset Management Inc Acquires 21,313 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

CIBC Asset Management Inc boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 37.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 77,612 shares of the oil and natural gas company’s stock after purchasing an additional 21,313 shares during the period. CIBC Asset Management Inc’s holdings in Diamondback Energy were worth $12,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after acquiring an additional 149,871 shares in the last quarter. Geode Capital Management LLC raised its position in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after acquiring an additional 266,299 shares in the last quarter. Pacer Advisors Inc. raised its position in Diamondback Energy by 9.3% during the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after acquiring an additional 230,689 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares in the last quarter. Finally, Yacktman Asset Management LP raised its position in Diamondback Energy by 9.3% during the fourth quarter. Yacktman Asset Management LP now owns 1,388,434 shares of the oil and natural gas company’s stock valued at $227,467,000 after acquiring an additional 118,603 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.1 %

FANG opened at $156.76 on Wednesday. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm’s fifty day moving average price is $165.94 and its two-hundred day moving average price is $177.41. The company has a market capitalization of $45.77 billion, a P/E ratio of 8.97, a P/E/G ratio of 1.24 and a beta of 1.86.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Raymond James lifted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.17.

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.