Diamondback Energy, Inc. (NASDAQ:FANG) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 75.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,584 shares of the oil and natural gas company’s stock after buying an additional 161,833 shares during the quarter. ProShare Advisors LLC’s holdings in Diamondback Energy were worth $61,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wintrust Investments LLC bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the period. Key Financial Inc boosted its holdings in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the period. Finally, Transce3nd LLC acquired a new position in shares of Diamondback Energy in the fourth quarter worth about $38,000. 90.01% of the stock is owned by institutional investors.

Insider Activity

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the transaction, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $141.95 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a 50 day moving average price of $141.32 and a 200-day moving average price of $158.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $41.47 billion, a PE ratio of 8.13, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.50 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

Analyst Ratings Changes

Several research analysts have commented on FANG shares. Royal Bank of Canada started coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price for the company. Truist Financial increased their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. UBS Group reduced their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and a consensus price target of $194.09.

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.