Benchmark Starts Diamondback Energy (FANG) at Buy, 'among the highest FCF per flowing barrel'

Benchmark analyst Subash Chandra initiates coverage on Diamondback Energy (NASDAQ: FANG) with a Buy rating and a price target of $154.00.

The analyst comments "FANG has focused operations, improving well productivity, and is generating among the highest FCF per flowing barrel. We expect more of the same going forward but now see FANG poised to benefit from service and materials cost deflation. They have not chosen to grow in an inflationary environment with weak product prices, preferring instead to make accretive acquisitions. The return-of-capital formula is among the most generous – and flexible -- weighed more towards share buybacks than variable dividends."

For an analyst ratings summary and ratings history on Diamondback Energy click here. For more ratings news on Diamondback Energy click here.

Shares of Diamondback Energy closed at $137.14 yesterday.

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