Keeley Teton Comments on Diamondback Energy

Guru stock highlight

Jun 14, 2021

Summary

The stock was a top contributor

Diamondback Energy (FANG, Financial) is an independent oil and gas exploration and production company witha large footprint in the Permian Basin. In addition to a 22% increase in crude oil (WTI) during the quarter, the company announced two accretive acquisitions which closed in the first quarter. These should drive higher free cash flow and support the company’s dividend policy. Diamondback also improved its Environmental, Social, and Governance (ESG) score by announcing a new “Net Zero Now” policy which targets a 50% reduction in greenhouse gas emissions and a 70% reduction in methane emissions by 2024.

From Keeley Teton Mid Cap Dividend Value Fund's first-quarter 2021 commentary.

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I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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