Tectonic Advisors LLC Has $2.53 Million Holdings in Diamondback Energy, Inc. $FANG

Key Points

• Tectonic Advisors LLC cut its stake in Diamondback Energy (NASDAQ: FANG) by 45.5% in Q4, selling 14,051 shares and finishing the period with 16,849 shares worth $2.533 million.
• Insider selling has been substantial: Director Charles Alvin Meloy sold 60,605 shares (~$9.76M) and Steven E. West sold 6,000 shares (~$1.13M), with insiders selling a total of 1,217,069 shares (~$201.2M) in the last 90 days and now owning 0.70% of the stock.
• Analysts are mostly positive — consensus rating is Buy with an average target of $203.95 — and the company recently raised its quarterly dividend to $1.05 (annualized $4.20, yield 2.2%).

Tectonic Advisors LLC lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 45.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $25,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the 3rd quarter worth about $26,000. Richardson Financial Services Inc. raised its holdings in Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after buying an additional 125 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in Diamondback Energy by 106.3% during the 3rd 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 buying an additional 102 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in Diamondback Energy during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 60,605 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total value of $9,764,677.60. Following the transaction, the director owned 982,006 shares in the company, valued at approximately $158,220,806.72. This represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven E. West sold 6,000 shares of the stock in a transaction that occurred 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 owned 4,484 shares in the company, valued at $844,561.40. This represents a 57.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,217,069 shares of company stock valued at $201,213,109 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Diamondback Energy in a report on Monday, December 29th. Jefferies Financial Group reiterated a "hold" rating and issued a $173.00 target price on shares of Diamondback Energy in a report on Monday, January 19th. Mizuho upped their target price on Diamondback Energy from $205.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Citigroup upped their target price on Diamondback Energy from $178.00 to $230.00 and gave the company a "buy" rating in a report on Monday, March 30th. Finally, Raymond James Financial upped their target price on Diamondback Energy from $210.00 to $240.00 and gave the company a "strong-buy" rating in a report on Tuesday, March 17th. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $203.95.

Diamondback Energy Price Performance

Shares of FANG opened at $188.21 on Monday. The company has a market capitalization of $52.94 billion, a price-to-earnings ratio of 33.55 and a beta of 0.50. Diamondback Energy, Inc. has a fifty-two week low of $121.03 and a fifty-two week high of $204.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.42 and a quick ratio of 0.40. The business's 50-day moving average is $180.46 and its 200-day moving average is $159.76.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The oil and natural gas company reported $1.74 EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($0.26). Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The company's quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were issued a $1.05 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, March 5th. Diamondback Energy's dividend payout ratio is currently 74.87%.

Diamondback Energy Profile

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.

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