CIBC Asset Management Inc bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,284 shares of the oil and natural gas company’s stock, valued at approximately $322,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new position in Diamondback Energy during the 2nd quarter valued at $102,000. Crossmark Global Holdings Inc. purchased a new position in Diamondback Energy during the 3rd quarter valued at $206,000. Cubist Systematic Strategies LLC boosted its holdings in Diamondback Energy by 46.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,200 shares of the oil and natural gas company’s stock valued at $195,000 after acquiring an additional 700 shares during the period. American International Group Inc. boosted its holdings in Diamondback Energy by 5.8% during the 1st quarter. American International Group Inc. now owns 2,308 shares of the oil and natural gas company’s stock valued at $239,000 after acquiring an additional 126 shares during the period. Finally, Raymond James Trust N.A. purchased a new position in Diamondback Energy during the 3rd quarter valued at $237,000.
Diamondback Energy, Inc. (FANG) opened at $107.97 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $82.77 and a 1 year high of $114.93. The stock has a market capitalization of $10,580.00, a PE ratio of 23.03, a P/E/G ratio of 0.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.45 and a current ratio of 0.46.
In other news, VP Paul Molnar sold 5,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $95.04, for a total value of $475,200.00. Following the transaction, the vice president now directly owns 42,563 shares of the company’s stock, valued at $4,045,187.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Hof Matthew Kaes Van’t sold 650 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $88.49, for a total value of $57,518.50. Following the completion of the transaction, the vice president now directly owns 4,950 shares in the company, valued at $438,025.50. The disclosure for this sale can be found here. Insiders have sold a total of 23,805 shares of company stock worth $2,446,531 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
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A number of equities analysts recently issued reports on the company. Barclays PLC upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and set a $137.00 price objective for the company in a report on Monday. Goldman Sachs Group, Inc. (The) cut Diamondback Energy from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the company from $106.53 to $118.00 in a report on Friday. BMO Capital Markets set a $130.00 price objective on Diamondback Energy and gave the company a “buy” rating in a report on Tuesday, November 14th. SunTrust Banks, Inc. restated a “buy” rating and set a $130.00 price objective on shares of Diamondback Energy in a report on Friday, November 10th. Finally, Zacks Investment Research cut Diamondback Energy from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $125.21.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company. The Company focuses on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. As of December 31, 2016, the Company’s total net acreage position in the Permian Basin was approximately 105,894 net acres.
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