|Bid||12.63 x 800|
|Ask||12.64 x 800|
|Day's range||12.41 - 12.89|
|52-week range||12.41 - 22.11|
|Beta (5Y monthly)||0.82|
|PE ratio (TTM)||20.27|
|Earnings date||28 Apr 2020 - 03 May 2020|
|Forward dividend & yield||0.20 (1.38%)|
|Ex-dividend date||08 Mar 2020|
|1y target est||24.73|
Last week saw the newest full-year earnings release from Parsley Energy, Inc. (NYSE:PE), an important milestone in the...
Parsley Energy (PE) delivered earnings and revenue surprises of -9.68% and 3.00%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Parsley Energy (PE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg Opinion) -- It is possible that even now, after five years of bruising re-education, Saudi Arabia harbors dreams of finally overcoming the U.S. fracking industry’s cockroach-like grip on life.Unfortunately for Riyadh, coronavirus threatens its own health, so instead of letting rip, it’s talking about further supply cuts. Unfortunately for the frackers, such talk — absent full-throated endorsement from Moscow — still leaves Nymex oil futures pegged at just $50 a barrel. Make no mistake, virus or no, there is a deep malaise in the oil market.Immunity is bolstered best with a healthy (or healthy-ish) balance sheet. On Thursday evening, Parsley Energy Inc. priced eight-year bonds at 4.125%. As exploration and production companies go, Parsley’s leverage counts as relatively OK. It ended September with net debt of just under 1.9 times trailing Ebitda, and Fitch Ratings has it just inside investment grade. It is taking the opportunity to raise longer-dated money with a lower coupon to take out 2024 paper costing 6.25% a year, albeit paying a hefty premium of almost 5% of par to do so.Parsley is a relative rarity. Energy’s high-yield market is largely closed, with the option-adjusted spread on the ICE BofA U.S. High Yield Energy Index back above 700 basis points. The lowest-rated energy credits are utter pariahs, with CCC-rated bonds sporting an average spread of almost 2,000 basis points, according to CreditSights, versus an ex-energy average of about 860 points, which seems almost welcoming by comparison.This split between the sort-of-haves and the most-definitely-have-nots is reflected in stocks too. I wrote back in November about how leverage had become a differentiating factor in an E&P sector coming under increasing pressure. The new year’s bout of fear and loathing has exacerbated that. Here’s how the sector has done, split by levels of indebtedness(1):The message from the stock market, and Parsley’s opportunism, is clear: Any fracker wanting to survive 2020 had best ditch the freewheeling habits of yesteryear and hunker down.(1) The four groups are: as follows. Very high leverage (net debt >3x Ebitda) comprising Antero Resources, Chesapeake Energy, Comstock Resources, EQT, Laredo Petroleum, Oasis Petroleum, Range Resources. High leverage (2-3 x Ebitda) comprising Apache, Callon Petroleum, CNX Resources, Matador Resources, QEP Resources, Southwestern Energy. Moderate leverage (1-2x Ebitda) comprising Berry Petroleum, Centennial Resource Development, Cimarex Energy, Continental Resources, Diamondback Energy, Diversified Oil & Gas, Jagged Peak Energy, Marathon Oil, Murphy Oil, Northern Oil and Gas, Parsley Energy, PDC Energy, SM Energy, SRC Energy, Talos Energy, W&T Offshore, WPX Energy. Low leverage (To contact the author of this story: Liam Denning at email@example.comTo contact the editor responsible for this story: Mark Gongloff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2020 Bloomberg L.P.Subscribe now to stay ahead with the most trusted business news source.
Could Parsley Energy, Inc. (NYSE:PE) be an attractive dividend share to own for the long haul? Investors are often...
Big Oil will be in focus this week with supermajors ExxonMobil (XOM) and Chevron (CVX) reporting fourth-quarter earnings on Friday.
Following the completion of Jagged Peak Energy acquisition earlier this month, Parsley (PE) foresees first quarter 2020 net oil production to average 123 --129 MBo/d.
Given that shale drillers will probably generate handsome free cashflows in 2020, it would be ideal to keep an eye on the following Permian explorers that are poised to gain.
With WTI crude, the domestic benchmark, bouncing back above $60 per barrel on multiple tailwinds, the investor hunger for M&A deals in the energy space is likely to remain strong.
Parsley Energy, Inc. (NYSE:PE) shareholders should be happy to see the share price up 19% in the last month. But that...
Parsley Energy (PE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
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The Permian Shale, which is spread over roughly 75,000 square miles of western Texas and southeastern New Mexico, is believed to hold enough oil to feed all the domestic refineries for 12 years.
Parsley's (PE) third-quarter average quarterly volume grows 29.4% year over year on the back of higher production of oil, natural gas and natural gas liquids.
Jagged Peak Energy's (JAG) third-quarter results are affected by lower commodity price realizations and higher operating expenses, partially offset by rise in production volumes.
In this article we are going to estimate the intrinsic value of Parsley Energy, Inc. (NYSE:PE) by estimating the...
Parsley Energy (PE) delivered earnings and revenue surprises of -14.71% and 1.94%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?