Diamondback Energy, Inc. $FANG Stock Position Raised by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,606 shares of the oil and natural gas company’s stock after buying an additional 1,381 shares during the quarter. Tectonic Advisors LLC’s holdings in Diamondback Energy were worth $4,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Merit Financial Group LLC raised its holdings in shares of Diamondback Energy by 35.5% during the 1st quarter. Merit Financial Group LLC now owns 3,137 shares of the oil and natural gas company’s stock valued at $501,000 after purchasing an additional 822 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 172.8% during the 1st quarter. UMB Bank n.a. now owns 521 shares of the oil and natural gas company’s stock valued at $83,000 after purchasing an additional 330 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Diamondback Energy by 36.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company’s stock valued at $174,000 after purchasing an additional 287 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Diamondback Energy by 17.2% during the 1st quarter. SG Americas Securities LLC now owns 50,450 shares of the oil and natural gas company’s stock valued at $8,066,000 after purchasing an additional 7,407 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in shares of Diamondback Energy by 7.2% during the 1st quarter. Integrated Advisors Network LLC now owns 2,800 shares of the oil and natural gas company’s stock valued at $448,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.1%

Shares of FANG stock opened at $149.07 on Thursday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $197.68. The company has a market capitalization of $43.15 billion, a P/E ratio of 10.59 and a beta of 1.04. The firm has a 50-day moving average price of $142.72 and a 200 day moving average price of $141.45. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the firm posted $4.52 earnings per share. The company’s revenue was up 48.1% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s payout ratio is currently 28.43%.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on FANG. Susquehanna lowered their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI raised their target price on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday. Melius began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Barclays lowered their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, William Blair began coverage on shares of Diamondback Energy in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $192.55.

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.