#5 - Parsley Energy (NYSE:PE)
Parsley Energy (NYSE: PE) - There is positive and negative surrounding Parsley Energy’s stock. On the positive side, some analysts gave the company positive earnings expectations of 225% over the next three years, highlighted by double-digit, top-line growth in 2019. This would seem to suggest that the company is ready for a period of strong, sustainable growth. On the other hand, it’s a proven fact that at least a few company insiders have sold shares of stock, which is never considered a positive sign. Are they questioning the ability of the company to maintain their pace of growth or maybe they perceive that their stock price is overly inflated. Add to that, several technical indicators are not in Parsley's favor. They are showing signs that their stock is ready to turn downward which would test their 52-week low around $21 per share. What's uncertain is if some of the declines have to do with analysts already factoring in interest rate hikes.
About Parsley Energy
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2019, its acreage position consisted of 191,179 net acres, including 149,615 net acres in the Midland Basin and 41,564 net acres in the Delaware Basin; and operated 558.9 net acres of the horizontal wells and 723.1 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 592.3 MMBoe.
Read More - Current Price
- $16.93
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
