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Sterne Agee Maintains Neutral Rating on Diamondback Energy Citing Viability of Five Rig Program

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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.

Latest Ratings for FANG

DateFirmActionFromTo
Dec 2016Drexel HamiltonInitiates Coverage OnHold
Oct 2016Stephens & Co.UpgradesEqual-WeightOverweight
Oct 2016BarclaysMaintainsEqual-Weight

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Posted-In: Sterne Agee Tim RezvanAnalyst Color Reiteration Analyst Ratings

 

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