PE - Parsley Energy, Inc.

NYSE - NYSE Delayed Price. Currency in USD
16.97
+0.52 (+3.16%)
At close: 4:02PM EDT
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Previous Close16.45
Open16.70
Bid0.00 x 800
Ask0.00 x 900
Day's Range16.70 - 17.13
52 Week Range13.72 - 29.88
Volume3,384,656
Avg. Volume4,890,890
Market Cap5.374B
Beta (3Y Monthly)0.90
PE Ratio (TTM)18.39
EPS (TTM)0.92
Earnings DateNov 5, 2019
Forward Dividend & Yield0.12 (0.73%)
Ex-Dividend Date2019-09-19
1y Target Est24.80
Trade prices are not sourced from all markets
  • PR Newswire

    Parsley Energy Schedules Third Quarter 2019 Earnings Release and Conference Call

    AUSTIN, Texas , Oct. 10, 2019 /PRNewswire/ -- Parsley Energy, Inc. (NYSE: PE) plans to report third quarter 2019 financial results on Tuesday, November 5, 2019 after the close of trading on the New York ...

  • Is Parsley Energy (PE) a Profitable Pick for Value Investors?
    Zacks

    Is Parsley Energy (PE) a Profitable Pick for Value Investors?

    Let's see if Parsley Energy (PE) stock is a good choice for value-oriented investors right now from multiple angles.

  • How Do Parsley Energy, Inc.’s (NYSE:PE) Returns Compare To Its Industry?
    Simply Wall St.

    How Do Parsley Energy, Inc.’s (NYSE:PE) Returns Compare To Its Industry?

    Today we are going to look at Parsley Energy, Inc. (NYSE:PE) to see whether it might be an attractive investment...

  • Moody's

    Parsley Energy LLC -- Moody's upgrades Parsley Energy to Ba2

    Moody's Investors Service (Moody's) upgraded Parsley Energy LLC's (Parsley) Corporate Family Rating (CFR) to Ba2 from Ba3, Probability of Default Rating (PDR) to Ba2-PD from Ba3-PD and senior unsecured notes to Ba3 from B1, and upgraded its Speculative Grade Liquidity (SGL) rating to SGL-1 from SGL-3.

  • 3 ‘Strong Buy’ Energy Stocks to Light Up Your Portfolio
    TipRanks

    3 ‘Strong Buy’ Energy Stocks to Light Up Your Portfolio

    Whether from conventional or renewable sources, energy is the world’s truly must-have commodity. Without it, the global economy would simply halt. This bottom-line absolute necessity gives a resilience to energy companies that strengthens them in the markets and attracts positive attention from Wall Street’s analysts.“We believe favorable technicals, improving fundamentals with stabilizing business cycle, and ongoing geopolitical tensions in the Middle East could help redirect flows into this universally hated and cheap [energy] sector,” said JP Morgan's chief U.S. equity strategist, Dubravko Lakos-Buja.We’ve opened up TipRanks’ Stock Screener to find three Strong Buy energy stocks that combine positive analyst endorsements with high upside. Each represents a different segment of the energy sector, and each shows how an energy company can leverage the unique features of a particular niche to boost the stock and benefit shareholders. Enphase Energy: 41% UpsideThe market leader in microinverter solar technology, Enphase (ENPH – Get Report) has shipped over 10 million microinverters to the North American, European, and Australian residential and commercial markets. Solar energy – clean and infinite – is widely considered a major source of future commercial power generation, and microinverters are an important part of a solar system. The devices convert the direct current power from a photovoltaic panel into the alternating current used on electrical grids. Enphase was the first company to set up successful, large-scale microinverter production. Year-to-date, Enphase stock is up a whopping 370%.The company’s leading role in its niche has prompted JPMorgan’s 4-star analyst Mark Strouse to initiate coverage of the stock with a 'buy' rating and a $32 price target. He says, “We are encouraged by ENPH’s fundamental outlook, driven by industry tailwinds (unit growth in solar, MLPE share gains against traditional string inverters, residential energy storage penetration), as well as company-specific tailwinds (new products, improving margins and cash flow, international expansion opportunities).” Strouse’s price target suggests room for an additional 43% upside in the coming 12 months. (To watch Strouse's track record, click here)Strong products and a clear path to monetization are a firm foundation for any company, and Gus Richard, of Northland Securities, sees plenty of both at Enphase. In his recent research note on the company, Richard says, “ENPH product offerings are shifting away from components to energy management solutions. The Company is developing software and hardware that allow a consumer to optimize its production and usage of electricity with the introduction of its Ensemble solution that incorporates its new inverter IQ 8 and Encharge its battery solution. The Ensemble solution will expand the Company’s revenue opportunity per household from $2K to $10K.” Richard’s $40 price target implies an impressive upside potential of 79%. Overall, Enphase has a Strong Buy from the analyst consensus. In the last three months, 8 top analysts have reviewed this stock, and all have given buy ratings. Shares are currently selling for $22, and the $31 average price target suggests an upside of 41%. (See ENPH's price targets and analyst ratings on TipRanks) First Solar: 31% UpsideWhere Enhpase focuses on inverter tech, First Solar (FSLR – Get Report) manufactures actual photovoltaic panels that collect solar radiation for energy conversion. The company supplies large-scale installations for solar power plants, and offers service across the full life cycle of the panels – from purchase and financing, to construction, to maintenance and recycling. First Solar is also a leader in cadmium telluride semiconducting panels, and is notable as the first major solar panel producer to push its production cost below $1 per watt of power. The company’s stock is up 37% this year, and has recorded a 49% three-year gain. 4-star analyst Jon Windham, of UBS, reiterated his buy rating on FSLR earlier this month. Citing the company’s move away from direct participation in engineering, procurement, and construction (EPC), Windham writes, “The switch to the larger industry standard sizing of the Series 6 module is key to enabling FSLR to effectively utilize third party EPC. In our view, this transition will give FSLR more flexibility in the development process and enable increased management focus on higher margin Series 6 module manufacturing operations.” Windham’s price target of $80 indicates a 36% upside potential.FSLR’s Strong Buy consensus rating is derived from 5 buys and 1 hold given in the past three months. The stock is selling for $58, and the average price target of $76.50 suggests a robust upside potential of nearly 31%. (See FSLR's price targets and analyst ratings on TipRanks) Parsley Energy: 41% UpsideLast month, Parsley (PE – Get Report) beat the earnings forecast, showing 32 cents EPS as opposed to the estimated 31. Q2 revenues came in at $498.54 million. Both EPS and revenue were well ahead of the previous year’s Q2. Riding high on the earnings optimism, Parsley management announced the company’s first dividend, a 3-cent payment to be disbursed quarterly.Parsley built its profitable business on the Texas oilpatch. The company is engaged in exploration and drilling in the Permian basin of West Texas, currently the richest oil producing area the United States.Writing from Piper Jaffray, Kashy Harrison sums up Parsley’s situation: “Parsley's execution this year has been solid. Following the indication of a Q3 production beat and the initiation of a dividend, PE has achieved a multiple inline with larger Permian players… We believe PE is well positioned to exit 2019 favorably. Accordingly, with 2019 coming to a close, investors are increasingly exploring 2020 probabilities… We believe PE has the potential to deliver around 10% production growth…” Harrison’s $22 price target implies an upside of 29%.Neal Dingmann, of SunTrust Robinson, believe that this oil company is on the way up. He writes, “We continue to forecast Parsley to growth ˜2%+/qtr and become FCF positive this month while remaining FCF positive in 2020 even if oil prices fall as low as ~$51/bbl… We believe the company is in a position to generate doubledigit exit-to-exit oil production growth in 2020 while generating $200MM+ in free cash flow.” His price target, $23, indicates his confidence in a 35% upside for PE.Parsley holds a Strong Buy rating from the analyst consensus, based on 10 buys and 2 holds assigned over the past three months. At just $17 per share, PE has the lowest cost of entry of the stocks in this list. The average price target, $24, suggests a 41% upside. (See PE's price targets and analyst ratings on TipRanks)

  • The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Concho Resources, Callon Petroleum, Parsley Energy and Diamondback Energy
    Zacks

    The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Concho Resources, Callon Petroleum, Parsley Energy and Diamondback Energy

    The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Concho Resources, Callon Petroleum, Parsley Energy and Diamondback Energy

  • Permian Oil Production Growth to Continue: 5 Stocks in Focus
    Zacks

    Permian Oil Production Growth to Continue: 5 Stocks in Focus

    Production from the Permian Basin of Texas and New Mexico is set to climb by 71,000 barrels per day to a record of about 4.485 million barrels per day in October.

  • 3 Texas Oil Stocks Poised to Gain from Saudi Cuts
    TipRanks

    3 Texas Oil Stocks Poised to Gain from Saudi Cuts

    The world just lost 5% of its daily oil output, as Saudi Arabi cut production by half in the wake of a drone attack on Saudi Aramco oil fields. The attack was claimed by the Houthi rebels of neighboring Yemen, and is part of an ongoing conflict on the Arabian Peninsula.In immediate, practical terms, industry analysts expect crude to gain as much as $10 per barrel when trading resumes after the weekend. From Seaport Global, head of energy trading Roberto Friendlander said after the attack that the exact spike in oil prices will depend on how long Saudi production is disrupted: “If it is a few days, the Saudis are working to restore production and will provide more information in the next 48 hours, the impact is more likely to be $3-5…”As of early Monday, September 16, Brent crude, the key international benchmark, is up $5.82, or 9.66%, in early hours trading. The price spike, which exceeded $11 in the first few seconds of London’s trading, was the largest intraday jump ever recorded in oil trading. The 5.7 million barrel per day drop in output is the worst disruption the oil markets have ever faced.Of course, every market disruption marks an opportunity for someone. If Saudi oil is off the markets, the supply has to be compensated somewhere, and this where the last few years’ surge in American output is important. Increased production from US oil and gas fields have made the country the world’s top oil producer, and at current trends the US will become a net exporter of oil and gas in 2020.With this in the background, it’s time again to look at the Texas oil companies. The Permian Basin oil fields of West Texas are richest petroleum producing areas in the United States. We’ve dipped into TipRanks’ database, to find out what Wall Street’s analysts are saying about the energy companies working in the Texas oil fields. Concho Resources, Inc.Concho (CXO – Get Report) is one of many energy companies that focuses on the Permian Basin. The company’s specific operating areas are in the Delaware Basin, the Permian’s second largest subdivision, and CXO controls over 1.1 billion barrels of proven hydrocarbon reserves.The stock offers buyers a discount at the moment, as it’s down 24% in the markets following an EPS miss in July’s Q2 earnings report. Despite the miss, both hedge funds and market insiders are picking up this stock. Hedge funds increased holdings in CXO by 1.7 million shares in Q2, while last month, after the earnings report, industry insiders bought over $1.5 million worth of shares in Concho.Wall Street analysts are also bullish on CXO. From MKM Partners, John Gerdes gives it a $116 price target, indicating confidence in an impressive 57% upside. Jefferies analyst Mark Lear is even more optimistic about Concho. His $127 target implies an upside of 72%.Overall, CXO has a $118 average price target from the analysts, suggesting an upside of 61% from the share price of $73. The Moderate Buy consensus rating is based on 12 buys, 2 holds, and 1 sell set in the last three months. Diamondback Energy, Inc.Diamondback (FANG – Get Report) offers investors a firm base of 992 million barrels of proven oil and gas reserves in the Permian Basin. Petroleum makes up 63% of the company’s recoverable assets, while natural gas and natural gas liquids make up the remaining 37%.Diamondback reported a mixed result in the second quarter. EPS and revenues, at $1.70 and $1.02 billion, were both up year-over-year, but missed the forecasts. Net profit was a robust $349 million, and the company continues to pay out its quarterly dividend of 18.75 cents per share. Looking at long-term trends, FANG shares are up 29% in the last five years.Writing from Roth Capital, analyst John White, described the Q2 results as “solid,” and added that he was “encouraged as the company lowered the midpoint of 2019 capital expenditure guidance and increased the midpoint of full year 2019 production guide.” His $140 price target suggests an upside of 44%.Kashy Harrison, of Piper Jaffray, is also bullish on FANG. He raised his price target by a half percent, from $155 to $156, implying an impressive upside potential of 61%.Diamondback’s analyst consensus rating of Strong Buy reflects a unanimous outlook – of 12 recent reviews, all are buys. Shares sell for $96, and the average price target of $143 gives the stock a 48% potential upside. Parsley Energy, Inc.Our third -buy rated Permian producer is Parsley Energy (PE – Get Report). One month ago, Parsley beat the Q2 earnings estimates, reporting 32 cents per share against a forecast of 31, and showing revenues of $498.54 million. Both EPS and revenues easily beat the year-ago numbers. After the earnings beat, company management announced a modest 3-cent quarterly dividend would be initiated, payable on September 30 to shareholders of record as of September 20.The strong quarter has Wall Street analysts bullish on PE. At Merrill Lynch, Asit Sen boosted his price target from $23 to $27, an increase of 17%. The new $27 target suggests an upside of 45% for PE shares.Neal Dingmann, of SunTrust Robinson, maintained his target of $23, along with this buy rating. In his comments on the stock, he wrote, “We continue to forecast Parsley to growth ˜2%+/qtr and become FCF positive this month while remaining FCF positive in 2020 even if oil prices fall as low as ~$51/bbl. Further, we estimate upcoming incremental shareholder returns as seen with the recent institution of a dividend. We believe the company could pursue spin-offs/equity monetizations/sales of its water infrastructure & minerals holdings that could represent upcoming catalysts for the stock.” Dingmann’s price target implies an upside of 24%.PE is the lowest cost of the three stocks in this list, with a share price of $18.50. It represents an affordable point of entry to the explosive Texas oil market. The $23.73 average price target gives the stock an upside potential of 28%. Parsley’s Strong Buy consensus rating comes from 9 buys and 2 holds given in the past three months.Visit TipRanks’ Stock Comparison tool, and take a look at other top oil stocks.

  • How Do Analysts See Parsley Energy, Inc. (NYSE:PE) Performing Over The Next Year?
    Simply Wall St.

    How Do Analysts See Parsley Energy, Inc. (NYSE:PE) Performing Over The Next Year?

    After Parsley Energy, Inc.'s (NYSE:PE) earnings announcement in June 2019, it seems that analyst forecasts are...

  • Parsley Energy (PE) Up 7.9% Since Last Earnings Report: Can It Continue?
    Zacks

    Parsley Energy (PE) Up 7.9% Since Last Earnings Report: Can It Continue?

    Parsley Energy (PE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • The Zacks Analyst Blog Highlights: Apache, Parsley, Equinor, Halliburton and Schlumberger
    Zacks

    The Zacks Analyst Blog Highlights: Apache, Parsley, Equinor, Halliburton and Schlumberger

    The Zacks Analyst Blog Highlights: Apache, Parsley, Equinor, Halliburton and Schlumberger

  • Why Rig Count Is No Longer a Reliable Gauge of Production
    Zacks

    Why Rig Count Is No Longer a Reliable Gauge of Production

    As per conventional wisdom, when number of rigs decline, fewer wells are drilled. This means less new oil and gas are discovered, and ultimately production slows down.

  • Oil & Gas Stock Roundup: BP Out of Alaska, Equinor Speeds Up Oil Field Start Up
    Zacks

    Oil & Gas Stock Roundup: BP Out of Alaska, Equinor Speeds Up Oil Field Start Up

    BP plc (BP) farmed out of Alaska, selling its entire business to Hilcorp Energy for $5.6 billion, while Equinor (EQNR) indicated an earlier-than-expected start up of the giant Johan Sverdrup field.

  • Thomson Reuters StreetEvents

    Edited Transcript of PE earnings conference call or presentation 7-Aug-19 1:00pm GMT

    Q2 2019 Parsley Energy Inc Earnings Call

  • Parsley Energy Rewards Investors With Dividend Initiation
    Zacks

    Parsley Energy Rewards Investors With Dividend Initiation

    Parsley Energy (PE) further plans to boost its capital efficiency by 12-14% via trimming high-tech and big-budget development procedures.

  • Benzinga

    MKM Bullish On Parsley Energy, Downgrades SRCI Energy

    It’s been another difficult year for oil stock investors so far, and one analyst adjusted his ratings on two exploration and production stocks. The Analyst MKM Partners analyst John Gerdes downgraded SRC ...

  • PR Newswire

    Parsley Energy Announces Initiation Of Quarterly Dividend

    AUSTIN, Texas, Aug. 26, 2019 /PRNewswire/ -- Parsley Energy, Inc. (PE) (the "Company") today announced that its Board of Directors approved the initiation of a quarterly dividend of $0.03 per share on the Company's Class A common stock, payable on September 30, 2019, to shareholders of record on September 20, 2019. "The initiation of a regular dividend program coincides with Parsley's inflection to sustainable free cash," commented Matt Gallagher, Parsley's President and CEO.

  • Parsley Energy (NYSE:PE) Takes On Some Risk With Its Use Of Debt
    Simply Wall St.

    Parsley Energy (NYSE:PE) Takes On Some Risk With Its Use Of Debt

    Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

  • Parsley (PE) Q2 Earnings and Sales Beat on Output Gains
    Zacks

    Parsley (PE) Q2 Earnings and Sales Beat on Output Gains

    Parsley Energy (PE) expects 2019 total output in the band of 134,000-139,000 Boe/d versus prior forecast of 124,000-134,000 Boe/d.

  • Parsley Energy Inc (PE) Q2 2019 Earnings Call Transcript
    Motley Fool

    Parsley Energy Inc (PE) Q2 2019 Earnings Call Transcript

    PE earnings call for the period ending June 30, 2019.

  • Shares of Parsley Energy Rise 15% on Improving Results
    Motley Fool

    Shares of Parsley Energy Rise 15% on Improving Results

    It's a step in the right direction, but it may not make this oil and gas stock a buy.

  • Parsley Energy (PE) Q2 Earnings and Revenues Beat Estimates
    Zacks

    Parsley Energy (PE) Q2 Earnings and Revenues Beat Estimates

    Parsley Energy (PE) delivered earnings and revenue surprises of 3.23% and 6.52%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • PR Newswire

    Parsley Energy Announces Second Quarter 2019 Financial And Operating Results; Tightens Capital Budget Range, Raises Production Guidance, And Lowers Unit Cost Estimates

    AUSTIN, Texas , Aug. 6, 2019 /PRNewswire/ -- Parsley Energy, Inc. (NYSE: PE) ("Parsley," "Parsley Energy," or the "Company") today announced financial and operating results ...

  • Earnings Preview: Parsley Energy (PE) Q2 Earnings Expected to Decline
    Zacks

    Earnings Preview: Parsley Energy (PE) Q2 Earnings Expected to Decline

    Parsley Energy (PE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Read This Before Judging Parsley Energy, Inc.'s (NYSE:PE) ROE
    Simply Wall St.

    Read This Before Judging Parsley Energy, Inc.'s (NYSE:PE) ROE

    While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...