Magnolia Capital Advisors LLC Has $834,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Magnolia Capital Advisors LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 65.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,315 shares of the oil and natural gas company’s stock after acquiring an additional 2,110 shares during the period. Magnolia Capital Advisors LLC’s holdings in Diamondback Energy were worth $834,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FANG. Massachusetts Financial Services Co. MA raised its holdings in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after acquiring an additional 858,446 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $128,720,000. Wellington Management Group LLP grew its position in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares during the last quarter. Raymond James & Associates boosted its position in Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after buying an additional 577,514 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Diamondback Energy by 286.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after buying an additional 441,411 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Monday, March 4th. Truist Financial increased their price objective on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna increased their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a research report on Monday. Mizuho increased their price objective on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Finally, Morgan Stanley decreased their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Trading Up 0.4 %

Diamondback Energy stock traded up $0.87 during mid-day trading on Wednesday, hitting $205.24. 1,289,023 shares of the company’s stock were exchanged, compared to its average volume of 1,739,906. The firm has a market capitalization of $36.60 billion, a P/E ratio of 11.84 and a beta of 1.93. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The company’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 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $5.29 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 18.67 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were issued 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 was Monday, March 4th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.94, for a total value of $969,700.00. Following the transaction, the executive vice president now owns 44,445 shares of the company’s stock, valued at approximately $8,619,663.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. Corporate insiders own 0.43% of the company’s stock.

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.