Mirae Asset Global Investments Co. Ltd. Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 26.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,438 shares of the oil and natural gas company’s stock after buying an additional 18,985 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Diamondback Energy were worth $14,537,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FANG. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. raised its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy in the 3rd quarter worth $42,000. CVA Family Office LLC boosted its holdings in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy during the third quarter worth about $52,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Mizuho cut their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Susquehanna decreased their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, UBS Group cut their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a report on Monday, December 9th. Four investment 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 company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Down 2.9 %

Shares of NASDAQ FANG opened at $160.03 on Friday. Diamondback Energy, Inc. has a 1 year low of $150.71 and a 1 year high of $214.50. The firm has a market cap of $46.73 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.86. The firm’s 50 day moving average price is $168.25 and its 200 day moving average price is $179.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS 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 analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business’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 posted $5.49 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.5 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.25%. Diamondback Energy’s payout ratio is currently 20.61%.

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.