Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 38.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,467 shares of the oil and natural gas company’s stock after buying an additional 8,704 shares during the quarter. Tectonic Advisors LLC’s holdings in Diamondback Energy were worth $5,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. R Squared Ltd acquired a new stake in Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. boosted its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $42,000. CVA Family Office LLC raised its holdings in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth $52,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial lifted their target price on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research report on Monday, January 13th. KeyCorp lowered their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Stock Up 1.1 %

Shares of FANG opened at $166.30 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $168.48 and its two-hundred day moving average price is $180.00. The company has a market capitalization of $48.56 billion, a PE ratio of 9.52, a PEG ratio of 1.28 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $5.49 EPS. The company’s revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.5 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % 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. 0.48% of the stock is owned by company insiders.

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.