|Bid||0.00 x 1200|
|Ask||0.00 x 900|
|Day's Range||8.12 - 8.33|
|52 Week Range||5.80 - 9.13|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||10.72|
|Earnings Date||Nov 07, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||9.47|
Parsley Energy, Inc. (NYSE: PE) ("Parsley," or "Parsley Energy") today announced that it has completed its acquisition of Jagged Peak Energy Inc. (NYSE: JAG) ("Jagged Peak"). The acquisition was previously approved by Parsley shareholders at a special meeting held on January 9, 2020, where more than 99.5% of the votes cast by Parsley stockholders were voted in favor of the proposal to issue Parsley common stock to the holders of Jagged Peak common stock as consideration for the acquisition.
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.