15.84 +0.25 (1.60%)
Pre-Market: 8:27AM EST
|Bid||15.42 x 3100|
|Ask||16.42 x 1400|
|Day's Range||15.21 - 16.00|
|52 Week Range||13.72 - 22.11|
|Beta (5Y Monthly)||0.82|
|PE Ratio (TTM)||24.86|
|Earnings Date||Apr 28, 2020 - May 03, 2020|
|Forward Dividend & Yield||0.20 (1.17%)|
|Ex-Dividend Date||Mar 08, 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 firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Gongloff at email@example.comThis 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.
Parsley Energy, LLC ("Parsley"), a subsidiary of Parsley Energy, Inc. (NYSE: PE) ("Parsley Inc."), and Parsley's wholly owned subsidiary, Parsley Finance Corp. (together with Parsley, the "Issuers"), announced today the pricing of their previously announced private offering (the "Notes Offering") of $400 million in aggregate principal amount of senior unsecured notes due 2028 (the "2028 Notes"). The 2028 Notes, which are priced at par, will mature on February 15, 2028 and will pay interest at an annual rate of 4.125%. Parsley Inc. will not guarantee the 2028 Notes.
Moody's Investors Service, (Moody's) assigned a Ba3 rating to Parsley Energy LLC's (Parsley) proposed $400 million senior unsecured notes issue due 2028. Proceeds from the offering will be used to redeem its $400 million senior unsecured notes issue due 2024. Parsley's senior unsecured notes, including the proposed issue, are rated Ba3, one notch below the Corporate Family Rating (CFR).
Could Parsley Energy, Inc. (NYSE:PE) be an attractive dividend share to own for the long haul? Investors are often...
Parsley Energy, LLC ("Parsley"), a subsidiary of Parsley Energy, Inc. (NYSE: PE) ("Parsley Inc."), and Parsley's wholly owned subsidiary, Parsley Finance Corp. (together with Parsley, the "Issuers"), announced today that they have commenced, subject to market conditions and other factors, a private offering of $400 million in aggregate principal amount of senior unsecured notes due 2028 to eligible purchasers (the "Notes Offering").
It has been a brutal January for oil and gas stocks, as dynamics in the energy markets and the coronavirus have combined to push oil into a bear market and natural gas to multiyear lows. After crude prices rose on Tuesday, the selloff resumed on Wednesday. West Texas Intermediate fell 0.7%, to $53.11.
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.
Parsley Energy, Inc. (NYSE: PE) ("Parsley," "Parsley Energy," or the "Company") today announced that its Board of Directors increased the Company's quarterly dividend from $0.03 per share to $0.05 per share(1). Additionally, Parsley provided an overview of its 2020 development program and updated expectations for certain full-year 2019 results.
Parsley Energy, Inc. (NYSE: PE) plans to report fourth quarter 2019 financial results on Wednesday, February 19, 2020 after the close of trading on the New York Stock Exchange. The company will host its quarterly conference call at 9:00 AM ET (8:00 AM CT) on Thursday, February 20, 2020.
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.
This is the year when shale drillers are finally going to deliver solid returns to investors that have grown weary of the industry's decade-long cash burn, the head of explorer Parsley Energy Inc. said.
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.
Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients' money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth also depends on it. Regardless of the various methods used by elite investors like David Tepper and David […]
Parsley Energy, Inc. (NYSE:PE) shareholders should be happy to see the share price up 19% in the last month. But that...