Published on 13 Mar 2024 on Insider Monkey via Yahoo Finance
Diamondback Energy (FANG) Fell with Global Decline in Oil Prices
Diamond Hill Capital, an investment management company, released its “Select Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In Q4, the portfolio rose strongly outperforming the Russell 3000 Index and adding to calendar-year outperformance. The strategy returned 18.06% (net) in Q4 compared to a 12.07% return for the index. For the calendar year, the strategy returned 30.60% compared to a 25.96% return for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Select Strategy featured stocks like Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter 2023 investor letter. Headquartered in Midland, Texas, Diamondback Energy, Inc. (NASDAQ:FANG) is an oil and natural gas company. On March 12, 2024, Diamondback Energy, Inc. (NASDAQ:FANG) stock closed at $184.52 per share. One-month return of Diamondback Energy, Inc. (NASDAQ:FANG) was 11.43%, and its shares gained 39.11% of their value over the last 52 weeks. Diamondback Energy, Inc. (NASDAQ:FANG) has a market capitalization of $32.929 billion.
Diamond Hill Select Strategy stated the following regarding Diamondback Energy, Inc. (NASDAQ:FANG) in its fourth quarter 2023 investor letter: