Diamondback Energy, Inc. $FANG Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. sold 3,040 shares of Diamondback Energy, reducing its stake by 1.3% to approximately 222,355 shares, valued at around $35.55 million.
• Insider activity included Chairman Travis D. Stice selling 20,400 shares for over $2.9 million, a transaction that significantly decreased his ownership in the company.
• Diamondback Energy reported $2.67 EPS in its latest earnings, missing consensus expectations, while showing a revenue increase of 48.1% year-over-year, totaling $3.68 billion.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 222,355 shares of the oil and natural gas company's stock after selling 3,040 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of Diamondback Energy worth $35,549,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FANG. Cary Street Partners Financial LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at $55,000. Captrust Financial Advisors boosted its holdings in Diamondback Energy by 3.2% in the fourth quarter. Captrust Financial Advisors now owns 27,887 shares of the oil and natural gas company's stock valued at $4,569,000 after purchasing an additional 876 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Diamondback Energy by 24.2% in the fourth quarter. CoreCap Advisors LLC now owns 776 shares of the oil and natural gas company's stock valued at $127,000 after purchasing an additional 151 shares during the last quarter. Deutsche Bank AG boosted its holdings in Diamondback Energy by 36.9% in the fourth quarter. Deutsche Bank AG now owns 940,582 shares of the oil and natural gas company's stock valued at $154,096,000 after purchasing an additional 253,604 shares during the last quarter. Finally, Fiduciary Trust Co boosted its stake in shares of Diamondback Energy by 16.9% during the 4th quarter. Fiduciary Trust Co now owns 6,805 shares of the oil and natural gas company's stock worth $1,115,000 after acquiring an additional 986 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

FANG traded up $3.35 during trading on Wednesday, reaching $139.64. The company's stock had a trading volume of 2,004,632 shares, compared to its average volume of 2,384,840. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $142.85 and a two-hundred day simple moving average of $142.46. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The company has a market cap of $40.42 billion, a price-to-earnings ratio of 9.92 and a beta of 1.14.

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

Diamondback Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Susquehanna lowered 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 note on Wednesday, July 23rd. Piper Sandler lowered their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, UBS Group raised their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $193.17.

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.