Mirae Asset Global Investments Co. Ltd. Has $14.76 Million Position in Diamondback Energy, Inc. $FANG

Key Points

• Mirae Asset Global Investments has increased its holdings in Diamondback Energy by 11.1%, owning 107,444 shares valued at approximately $14.76 million as of the latest SEC filing.
• Diamondback Energy reported a EPS of $2.67 for the last quarter, missing the consensus estimate of $2.72, but its revenue increased by 48.1% year-over-year.
• The company recently announced a quarterly dividend of $1.00 per share, representing an annualized dividend yield of 2.7% with a payout ratio of 28.43%.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,444 shares of the oil and natural gas company's stock after acquiring an additional 10,756 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Diamondback Energy were worth $14,763,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FANG. Nuveen LLC acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $230,039,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Diamondback Energy during the 1st quarter worth approximately $77,622,000. Wellington Management Group LLP increased its holdings in shares of Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock worth $311,792,000 after acquiring an additional 418,431 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Diamondback Energy by 50.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company's stock worth $181,585,000 after acquiring an additional 381,542 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock worth $861,961,000 after acquiring an additional 249,098 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $147.47 on Friday. The stock's 50-day simple moving average is $142.86 and its 200 day simple moving average is $141.52. The firm has a market capitalization of $42.69 billion, a PE ratio of 10.48 and a beta of 1.04. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47.

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

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.

Analyst Ratings Changes

A number of research analysts recently weighed in on FANG shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Diamondback Energy in a report on Saturday, September 27th. Piper Sandler decreased their price objective on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. UBS Group upped their price objective on Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Melius Research began coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $192.41.

Insider Buying and Selling

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

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.

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