Sterne Agee Maintains Neutral Rating on Diamondback Energy Citing Viability of Five Rig Program
In a report published on Monday, Sterne Agee analyst Tim Rezvan maintained a Neutral rating on Diamondback Energy (NASDAQ: FANG).
In the report, Sterne Agee noted, "We believe the company's recently upsized $180 million credit facility (paid down with proceeds from their May equity issuance) and our estimate of $246 million in discretionary CF in 2014 can support a five-rig program".
Diamondback Energy closed on Friday at $35.89.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.