Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 37.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,612 shares of the oil and natural gas company’s stock after acquiring an additional 21,313 shares during the period. CIBC Asset Management Inc’s holdings in Diamondback Energy were worth $12,715,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D increased its holdings in shares of Diamondback Energy by 8.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 67,758 shares of the oil and natural gas company’s stock worth $11,101,000 after acquiring an additional 5,555 shares during the period. Americana Partners LLC grew its position in Diamondback Energy by 5.4% in the 4th quarter. Americana Partners LLC now owns 13,850 shares of the oil and natural gas company’s stock valued at $2,269,000 after buying an additional 714 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Diamondback Energy in the 4th quarter valued at about $13,804,000. Principal Securities Inc. grew its position in Diamondback Energy by 10.8% in the 4th quarter. Principal Securities Inc. now owns 5,530 shares of the oil and natural gas company’s stock valued at $906,000 after buying an additional 540 shares in the last quarter. Finally, Lord & Richards Wealth Management LLC bought a new position in Diamondback Energy in the 4th quarter valued at about $505,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $156.76 on Wednesday. The company has a 50 day simple moving average of $165.94 and a 200-day simple moving average of $177.41. 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 has a market capitalization of $45.77 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52-week low of $152.00 and a 52-week high of $214.50.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FANG shares. Benchmark reiterated a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Mizuho decreased their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Piper Sandler decreased their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. UBS Group raised their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their price objective 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. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.17.

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.