Magnolia Capital Advisors LLC Purchases Shares of 5,441 Diamondback Energy, Inc. $FANG

Key Points

• Magnolia Capital Advisors opened a new Diamondback Energy position by purchasing 5,441 shares valued at approximately $956,000. Institutional investors collectively own 90.01% of the company.
• Analysts maintain a generally positive outlook, with Diamondback receiving a consensus “Moderate Buy” rating and an average price target of $222.21.
• Diamondback reported quarterly earnings of $6.48 per share, beating estimates, while revenue rose 51.2% year over year to $5.56 billion. The company also paid a $1.10 quarterly dividend, equivalent to a 2.2% annualized yield.

Magnolia Capital Advisors LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,441 shares of the oil and natural gas company's stock, valued at approximately $956,000.

A number of other large investors have also made changes to their positions in the stock. Deseret Mutual Benefit Administrators lifted its stake in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company's stock valued at $41,000 after buying an additional 66 shares during the period. Scotia Capital Inc. increased its stake in Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company's stock valued at $2,822,000 after acquiring an additional 68 shares during the period. Capital Financial Group Inc. Co. ADV increased its stake in Diamondback Energy by 2.1% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company's stock valued at $709,000 after acquiring an additional 75 shares during the period. Kestra Private Wealth Services LLC raised its holdings in Diamondback Energy by 0.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company's stock valued at $2,513,000 after acquiring an additional 86 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Diamondback Energy by 1.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 9,428 shares of the oil and natural gas company's stock valued at $1,865,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Mizuho lifted their price objective on Diamondback Energy from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. Wolfe Research reiterated an "outperform" rating and set a $206.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 4th. UBS Group lowered their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Morgan Stanley restated an "equal weight" rating and issued a $216.00 price objective on shares of Diamondback Energy in a research note on Wednesday, August 19th. Finally, Roth Capital set a $212.00 price objective on shares of Diamondback Energy and gave the stock a "buy" rating in a report on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $222.21.

Diamondback Energy Trading Down 0.0%

Shares of FANG opened at $199.84 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The stock has a market cap of $55.96 billion, a PE ratio of 38.96 and a beta of 0.43. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90. The stock has a 50 day simple moving average of $192.62 and a 200-day simple moving average of $190.20.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the firm earned $2.38 EPS. Diamondback Energy's quarterly revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy's dividend payout ratio (DPR) is presently 85.77%.

Insider Activity

In related news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares in the company, valued at $9,303,451.68. This trade represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the transaction, the director directly owned 818,197 shares of the company's stock, valued at $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 129,167 shares of company stock worth $24,714,309 over the last 90 days. 0.64% of the stock is currently owned by company insiders.

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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