First Trust Direct Indexing L.P. Has $935,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

First Trust Direct Indexing L.P. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,719 shares of the oil and natural gas company’s stock after purchasing an additional 626 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Diamondback Energy were worth $935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in Diamondback Energy in the 4th quarter worth $27,000. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy during the 4th quarter worth about $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $34,000. Finally, CVA Family Office LLC bought a new stake in shares of Diamondback Energy in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FANG shares. Stifel Nicolaus boosted their price target on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Evercore ISI raised their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Royal Bank of Canada lifted their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Susquehanna increased their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Finally, Barclays began coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Diamondback Energy Trading Up 1.0 %

FANG opened at $206.93 on Friday. Diamondback Energy, Inc. has a 1-year low of $125.73 and a 1-year high of $211.96. The firm has a 50-day moving average price of $196.83 and a two-hundred day moving average price of $182.79. The stock has a market capitalization of $36.90 billion, a PE ratio of 11.66, a PEG ratio of 1.12 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.10 EPS. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.74%. Diamondback Energy’s payout ratio is 20.29%.

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.