Keeley Comments on Diamondback Energy

Guru stock highlight

Jul 30, 2021

Summary

The stock was a top contributor.

Diamondback Energy (FANG, Financial) (FANG - $93.89 - NASDAQ) is an independent oil and gas exploration and productioncompany with a large footprint in the Permian Basin. e company bene tted from higher oil prices as WTI ran from less than $60 to almost $75 during the quarter due to improved demand fundamentals. In addition, Diamondback Energy has acquired two companies this year in the Permian basin to improve its scale and generate better operating e ciencies and sold its properties in the Williston basin to shore up its balance sheet after the acquisitions.

From Keeley Asset Management Corp (Trades, Portfolio)'s Small-Mid Cap Value Fund second-quarter 2021 letter.

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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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