Diamondback Energy, Inc. $FANG Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,308 shares of the oil and natural gas company’s stock after buying an additional 21,575 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Diamondback Energy were worth $20,942,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter worth $25,000. Richardson Financial Services Inc. increased its position in Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares during the period. JPL Wealth Management LLC acquired a new stake in Diamondback Energy in the third quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in Diamondback Energy by 106.3% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 102 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Diamondback Energy in the third quarter worth $31,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Matt Zmigrosky sold 20,899 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven E. West sold 6,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the transaction, the director directly owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. The trade was a 57.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,217,069 shares of company stock valued at $201,213,109. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FANG shares. Susquehanna increased their target price on Diamondback Energy from $182.00 to $199.00 and gave the stock a “positive” rating in a research report on Wednesday, February 25th. Sanford C. Bernstein dropped their target price on Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Wells Fargo & Company increased their target price on Diamondback Energy from $171.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their target price on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $204.14.

Diamondback Energy Trading Down 3.4%

NASDAQ:FANG opened at $180.27 on Friday. Diamondback Energy, Inc. has a 1 year low of $127.75 and a 1 year high of $204.91. The stock has a market cap of $50.71 billion, a price-to-earnings ratio of 32.13 and a beta of 0.50. The business has a fifty day moving average of $182.58 and a 200-day moving average of $161.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.26). Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the company posted $3.67 EPS. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were paid a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 5th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio (DPR) is currently 74.87%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.