Magnolia Capital Advisors LLC Purchases New Shares in Diamondback Energy, Inc. $FANG

Magnolia Capital Advisors LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 5,441 shares of the oil and natural gas company’s stock, valued at approximately $956,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at $26,000. Meeder Asset Management Inc. acquired a new position in Diamondback Energy during the 2nd quarter worth about $28,000. Laurel Wealth Advisors LLC acquired a new position in Diamondback Energy during the 4th quarter worth about $26,000. JPL Wealth Management LLC acquired a new position in Diamondback Energy during the 3rd quarter worth about $26,000. Finally, Wellington Shields & Co. LLC grew its holdings in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on FANG. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays reduced their target price on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Susquehanna raised their price target on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Raymond James Financial reissued a “strong-buy” rating and issued a $248.00 price target on shares of Diamondback Energy in a report on Friday, July 31st. Finally, UBS Group dropped their price objective on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $199.84 on Thursday. The company has a market cap of $55.96 billion, a PE ratio of 38.96 and a beta of 0.43. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90. The company’s 50-day moving average is $192.62 and its two-hundred day moving average is $190.20.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, topping the consensus estimate of $6.08 by $0.40. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. Diamondback Energy’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.38 EPS. Equities analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Insider Buying and Selling

In other Diamondback Energy news, Director Charles Alvin Meloy sold 83,334 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director owned 851,530 shares in the company, valued at approximately $159,338,293.60. This trade represents a 8.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the transaction, the director owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 129,167 shares of company stock worth $24,714,309. Corporate insiders own 0.64% of the company’s stock.

About Diamondback Energy

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.