Curi RMB Capital LLC Buys 32,251 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Curi RMB Capital LLC increased its stake in Diamondback Energy by 45.7%, now holding 102,894 shares valued at $16.45 million.
• Diamondback Energy's quarterly earnings reported an EPS of $2.67, missing consensus estimates, while revenues surged 48.1% year-over-year to $3.68 billion.
• The company recently declared a quarterly dividend of $1.00, representing an annualized yield of 2.8% and a payout ratio of 28.43%.

Curi RMB Capital LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 45.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,894 shares of the oil and natural gas company's stock after purchasing an additional 32,251 shares during the quarter. Curi RMB Capital LLC's holdings in Diamondback Energy were worth $16,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. BankPlus Trust Department purchased a new stake in Diamondback Energy during the 1st quarter worth $27,000. Pinnacle Bancorp Inc. boosted its stake in Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 88 shares during the period. SouthState Corp lifted its stake in shares of Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 167 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co lifted its stake in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Mizuho cut their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Melius Research assumed coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price target on the stock. Susquehanna decreased their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Finally, Raymond James Financial cut their price target on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $193.17.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $4.03 on Friday, hitting $138.71. 1,993,976 shares of the stock were exchanged, compared to its average volume of 1,686,301. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The business's fifty day moving average is $142.93 and its 200 day moving average is $142.77. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The company has a market capitalization of $40.16 billion, a PE ratio of 9.86 and a beta of 1.14.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the company posted $4.52 earnings per share. The business's revenue was up 48.1% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's dividend payout ratio is 28.43%.

Diamondback Energy Company 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.