Curi RMB Capital LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Curi RMB Capital LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,185 shares of the oil and natural gas company’s stock after buying an additional 1,053 shares during the period. Curi RMB Capital LLC’s holdings in Diamondback Energy were worth $8,307,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quent Capital LLC grew its position in shares of Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after buying an additional 54 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of Diamondback Energy by 0.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after acquiring an additional 56 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Diamondback Energy by 16.1% in the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 57 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $182.42 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The business has a 50-day moving average price of $181.26 and a 200-day moving average price of $191.70. The firm has a market cap of $53.26 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.49 earnings per share. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.97%. Diamondback Energy’s payout ratio is 20.61%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FANG. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. BMO Capital Markets upgraded Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from $205.00 to $215.00 in a research note on Friday, October 4th. UBS Group decreased their price target on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Evercore ISI dropped their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $209.64.

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.