ProShare Advisors LLC Lowers Position in Diamondback Energy, Inc. $FANG

ProShare Advisors LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.5% in the third quarter, HoldingsChannel.com reports. The firm owned 353,367 shares of the oil and natural gas company’s stock after selling 85,460 shares during the period. ProShare Advisors LLC’s holdings in Diamondback Energy were worth $50,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Prime Capital Investment Advisors LLC bought a new position in Diamondback Energy in the second quarter worth about $252,000. Vontobel Holding Ltd. grew its position in Diamondback Energy by 108.4% during the 2nd quarter. Vontobel Holding Ltd. now owns 3,286 shares of the oil and natural gas company’s stock worth $451,000 after purchasing an additional 1,709 shares during the period. US Bancorp DE lifted its holdings in shares of Diamondback Energy by 3.1% in the 2nd quarter. US Bancorp DE now owns 24,064 shares of the oil and natural gas company’s stock valued at $3,307,000 after buying an additional 722 shares during the period. Callan Family Office LLC boosted its stake in shares of Diamondback Energy by 55.7% in the second quarter. Callan Family Office LLC now owns 7,326 shares of the oil and natural gas company’s stock worth $1,007,000 after buying an additional 2,620 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Diamondback Energy by 4.1% during the second quarter. Blue Trust Inc. now owns 2,553 shares of the oil and natural gas company’s stock valued at $351,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $162.88, for a total value of $162,880,000.00. Following the transaction, the insider directly owned 98,686,727 shares in the company, valued at $16,074,094,093.76. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,438,516 shares of company stock worth $225,026,921. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Roth Mkm set a $162.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Sanford C. Bernstein decreased their target price on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Finally, UBS Group lifted their price objective on Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.90.

Diamondback Energy Stock Down 0.6%

FANG stock opened at $165.96 on Tuesday. The company has a market cap of $47.53 billion, a P/E ratio of 11.53 and a beta of 0.63. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $169.49. The company’s 50-day moving average price is $153.87 and its 200 day moving average price is $147.35.

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.