Tectonic Advisors LLC Sells 14,051 Shares of Diamondback Energy, Inc. $FANG

Tectonic Advisors LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 45.5% in the fourth quarter, Holdings Channel reports. The firm owned 16,849 shares of the oil and natural gas company’s stock after selling 14,051 shares during the period. Tectonic Advisors LLC’s holdings in Diamondback Energy were worth $2,533,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in Diamondback Energy during the fourth quarter worth approximately $25,000. JPL Wealth Management LLC bought a new stake in Diamondback Energy during the third quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its position in Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 125 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in Diamondback Energy by 106.3% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 102 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in Diamondback Energy during the third quarter worth approximately $31,000. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FANG shares. Susquehanna upped their target price on Diamondback Energy from $182.00 to $199.00 and gave the stock a “positive” rating in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Scotiabank upgraded shares of Diamondback Energy to a “strong-buy” rating in a research note on Friday, March 27th. Truist Financial assumed coverage on shares of Diamondback Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $222.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $171.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $203.95.

Insider Transactions at Diamondback Energy

In related news, Director Steven E. West sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total value of $1,130,100.00. Following the completion of the transaction, the director directly owned 4,484 shares of the company’s stock, valued at $844,561.40. This trade represents a 57.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total value of $162,880,000.00. Following the completion of the transaction, the insider directly owned 98,686,727 shares of the company’s stock, valued at approximately $16,074,094,093.76. This trade represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,217,069 shares of company stock valued at $201,213,109 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $188.21 on Monday. The company’s fifty day simple moving average is $180.46 and its 200-day simple moving average is $159.76. The company has a market cap of $52.94 billion, a price-to-earnings ratio of 33.55 and a beta of 0.50. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. Diamondback Energy, Inc. has a 1 year low of $121.03 and a 1 year high of $204.91.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.26). The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The company’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.67 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.2%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 5th. Diamondback Energy’s dividend payout ratio (DPR) is 74.87%.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.