MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 101,211 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 81.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 225,395 shares of the oil and natural gas company’s stock after acquiring an additional 101,211 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Diamondback Energy were worth $36,926,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FANG. Wintrust Investments LLC bought a new stake in Diamondback Energy in the fourth quarter worth $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. lifted its position in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $38,000. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. KeyCorp decreased their target price on Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Raymond James decreased their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 12th. Susquehanna decreased their target price on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Scotiabank decreased their target price on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price objective on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $194.09.

Diamondback Energy Price Performance

FANG opened at $146.17 on Wednesday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The firm has a market capitalization of $42.71 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s 50-day moving average is $141.19 and its two-hundred day moving average is $158.71.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the firm earned $4.50 earnings per share. The company’s revenue was up 81.8% on a year-over-year basis. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.74%. Diamondback Energy’s payout ratio is 24.46%.

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.