Mirae Asset Global Investments Co. Ltd. Has $29.93 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,991 shares of the oil and natural gas company's stock after purchasing an additional 12,969 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.11% of Diamondback Energy worth $29,929,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company's stock valued at $2,209,617,000 after buying an additional 648,317 shares in the last quarter. State Street Corp grew its holdings in Diamondback Energy by 1.0% during the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company's stock valued at $1,575,653,000 after buying an additional 112,297 shares in the last quarter. Geode Capital Management LLC grew its holdings in Diamondback Energy by 4.8% during the 1st quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company's stock valued at $528,736,000 after buying an additional 179,405 shares in the last quarter. Morgan Stanley grew its holdings in Diamondback Energy by 2.5% during the 4th quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company's stock valued at $488,590,000 after buying an additional 85,618 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Diamondback Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company's stock worth $514,289,000 after purchasing an additional 206,189 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FANG. Royal Bank of Canada reissued an "outperform" rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Monday, March 4th. Piper Sandler lifted their target price on Diamondback Energy from $222.00 to $227.00 and gave the company an "overweight" rating in a research report on Thursday, March 7th. Mizuho lifted their target price on Diamondback Energy from $177.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, March 5th. BMO Capital Markets lifted their target price on Diamondback Energy from $167.00 to $175.00 and gave the company a "market perform" rating in a research report on Tuesday, February 13th. Finally, Bank of America upgraded Diamondback Energy from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $129.00 to $170.00 in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $191.32.

Insider Buying and Selling at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company's stock, valued at approximately $89,322,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Teresa L. Dick sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares of the company's stock, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares of the company's stock, valued at approximately $89,322,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by insiders.

Diamondback Energy Stock Up 1.1 %

FANG stock traded up $2.25 on Monday, hitting $206.57. 1,830,077 shares of the company's stock were exchanged, compared to its average volume of 1,805,869. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $208.49. The firm has a 50 day moving average price of $179.56 and a two-hundred day moving average price of $164.17. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The stock has a market cap of $36.84 billion, a P/E ratio of 11.78 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.29 EPS. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 18.35 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 annualized dividend and a yield of 5.96%. The ex-dividend date was Monday, March 4th. This is an increase from Diamondback Energy's previous quarterly dividend of $0.84. Diamondback Energy's payout ratio is presently 20.76%.

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.