2024-02-12 16:03:48 ET
Summary
- Diamondback Energy, Inc. announced a merger with Endeavor Energy Partners.
- Accelerated cash flow growth and free cash flow growth should continue.
- Management plans to use a combination of stock and cash for the purchase to keep the debt ratio low.
- Management will repay debt quickly. This takes advantage of the financial leverage while preserving the investment grade rating.
- This is that rare IPO that has outperformed most benchmark measures long term. The merger is likely to ensure that Diamondback Energy, Inc.'s outperformance continues.
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Diamondback Energy: Free Cash Flow Growth Accelerates Again