Mirae Asset Global Investments Co. Ltd. Has $15.23 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Mirae Asset Global Investments Co. Ltd. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,688 shares of the oil and natural gas company's stock after purchasing an additional 5,250 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Diamondback Energy were worth $15,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. New York Life Investment Management LLC raised its holdings in Diamondback Energy by 5.4% in the 4th quarter. New York Life Investment Management LLC now owns 25,172 shares of the oil and natural gas company's stock worth $4,124,000 after acquiring an additional 1,297 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Diamondback Energy by 4.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 15,886 shares of the oil and natural gas company's stock valued at $2,603,000 after purchasing an additional 678 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock valued at $1,913,000 after purchasing an additional 3,238 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Diamondback Energy by 24.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,525 shares of the oil and natural gas company's stock worth $250,000 after purchasing an additional 302 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Diamondback Energy by 4.8% in the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company's stock worth $248,000 after purchasing an additional 69 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore ISI started coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a report on Wednesday, March 5th. Wells Fargo & Company raised their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Finally, Susquehanna cut their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of "Buy" and an average price target of $193.13.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $139.77 on Monday. The firm has a market capitalization of $40.84 billion, a P/E ratio of 8.55 and a beta of 1.06. The stock has a fifty day moving average price of $139.95 and a two-hundred day moving average price of $150.61. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter last year, the company posted $4.50 EPS. The firm's revenue for the quarter was up 81.8% on a year-over-year basis. As a group, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

Insider Activity

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is currently owned by corporate insiders.

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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