Tectonic Advisors LLC Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Tectonic Advisors LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 48.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,763 shares of the oil and natural gas company’s stock after acquiring an additional 7,447 shares during the quarter. Tectonic Advisors LLC’s holdings in Diamondback Energy were worth $3,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter worth about $40,000. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management boosted its stake in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FANG. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Susquehanna decreased their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Morgan Stanley raised their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Citigroup started coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Trading Down 0.1 %

NASDAQ FANG opened at $180.91 on Friday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The company has a market capitalization of $32.26 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company’s fifty day moving average price is $185.42 and its two-hundred day moving average price is $194.34.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the company earned $3.68 EPS. As a group, research analysts predict that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

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.