Mirae Asset Global Investments Co. Ltd. Has $12.36 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,453 shares of the oil and natural gas company’s stock after purchasing an additional 4,663 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Diamondback Energy were worth $12,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parcion Private Wealth LLC acquired a new position in Diamondback Energy in the 3rd quarter valued at approximately $410,000. Mayfair Advisory Group LLC grew its position in shares of Diamondback Energy by 32.6% in the 3rd quarter. Mayfair Advisory Group LLC now owns 1,868 shares of the oil and natural gas company’s stock valued at $322,000 after buying an additional 459 shares during the last quarter. Burford Brothers Inc. bought a new position in shares of Diamondback Energy during the third quarter worth about $604,000. Heritage Oak Wealth Advisors LLC bought a new stake in Diamondback Energy in the third quarter valued at approximately $352,000. Finally, Freedom Day Solutions LLC lifted its position in shares of Diamondback Energy by 0.7% in the 3rd quarter. Freedom Day Solutions LLC now owns 9,478 shares of the oil and natural gas company’s stock worth $1,634,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial upped their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Benchmark raised their price target on shares of Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Sanford C. Bernstein dropped their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, StockNews.com cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $184.38 on Monday. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. The stock has a market cap of $32.88 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.89. The stock’s fifty day simple moving average is $184.90 and its two-hundred day simple moving average is $193.93. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm earned $3.68 earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. As a group, analysts forecast that Diamondback Energy, Inc. will post 17.37 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.