ProShare Advisors LLC Has $61.70 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

ProShare Advisors LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 75.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 376,584 shares of the oil and natural gas company's stock after buying an additional 161,833 shares during the period. ProShare Advisors LLC owned 0.13% of Diamondback Energy worth $61,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Wintrust Investments LLC acquired a new position in Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. raised its stake in shares of Diamondback Energy by 247.3% during the 4th 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 in the last quarter. Key Financial Inc increased its stake in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in Diamondback Energy by 182.9% in the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's 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 directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company's stock, 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. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $0.29 on Wednesday, reaching $138.64. 686,248 shares of the company's stock were exchanged, compared to its average volume of 2,134,097. The company has a fifty day moving average of $140.95 and a 200-day moving average of $157.48. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a market capitalization of $40.51 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Analyst Ratings Changes

FANG has been the topic of several analyst reports. Piper Sandler decreased their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Evercore ISI initiated coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price objective on the stock. Barclays decreased their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Royal Bank of Canada initiated coverage on Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective on the stock. Finally, Bank of America upgraded Diamondback Energy from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $202.00 to $170.00 in a report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $194.09.

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.