Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.6% during the fourth quarter, Holdings Channel reports. The firm owned 4,093 shares of the oil and natural gas company’s stock after acquiring an additional 728 shares during the period. First Trust Direct Indexing L.P.’s holdings in Diamondback Energy were worth $635,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC purchased a new stake in shares of Diamondback Energy in the 3rd quarter valued at $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter worth $34,000. CVA Family Office LLC purchased a new position in shares of Diamondback Energy during the fourth quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC lifted its position in Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after purchasing an additional 218 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on 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 transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock valued at $11,311,096 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FANG. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. UBS Group lifted their price target on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Truist Financial upped their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Finally, Piper Sandler increased their price target on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.37.

Diamondback Energy Trading Up 2.0 %

Shares of Diamondback Energy stock opened at $201.50 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The firm has a market capitalization of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91. The firm’s 50-day moving average price is $195.49 and its 200 day moving average price is $170.81.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter last year, the business posted $4.10 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 18.91 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.79%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Diamondback Energy 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.