Magnolia Capital Advisors LLC Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Magnolia Capital Advisors LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 65.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,315 shares of the oil and natural gas company’s stock after purchasing an additional 2,110 shares during the period. Magnolia Capital Advisors LLC’s holdings in Diamondback Energy were worth $834,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FANG. Raymond James Trust N.A. boosted its stake in shares of Diamondback Energy by 145.2% during the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after acquiring an additional 7,102 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after acquiring an additional 13,426 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after acquiring an additional 13,243 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Diamondback Energy by 2.6% during the third quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after acquiring an additional 89,663 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Piper Sandler increased their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Scotiabank increased their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Susquehanna increased their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday. Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Finally, BMO Capital Markets raised their price objective on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.53.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ:FANG traded up $0.87 during mid-day trading on Wednesday, hitting $205.24. 1,289,023 shares of the company traded hands, compared to its average volume of 1,739,906. The firm has a market cap of $36.60 billion, a P/E ratio of 11.84 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The firm’s 50 day simple moving average is $192.11 and its 200 day simple moving average is $168.87.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm earned $5.29 EPS. Diamondback Energy’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 18.67 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is 20.76%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

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.