FDx Advisors Inc. Has $387,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

FDx Advisors Inc. lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 34.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,954 shares of the oil and natural gas company’s stock after selling 1,028 shares during the quarter. FDx Advisors Inc.’s holdings in Diamondback Energy were worth $387,000 at the end of the most recent reporting period.

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

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $207.17 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $197.04 and a two-hundred day moving average price of $184.44. Diamondback Energy, Inc. has a 1-year low of $134.68 and a 1-year high of $211.96. The company has a market cap of $36.95 billion, a P/E ratio of 11.68, a PEG ratio of 1.11 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the business posted $4.10 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, analysts anticipate that Diamondback Energy, Inc. will post 18.93 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.90 per share. 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 currently 20.29%.

Insiders Place Their Bets

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Jere W. Thompson III sold 900 shares of the company’s 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 of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares in the company, valued at $13,736,123.78. 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 research analysts have weighed in on FANG shares. Evercore ISI upped their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Mizuho upped their target price on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Piper Sandler upped their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company dropped their price target on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $209.35.

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.