Oil and natural gas company Parsley Energy which trades with the tag of NYSE: PE has recently managed to push optimism in the market at the time of the persisting gloom. The shares of the company were trading at as high 11.93 USD that is well above the average price. The target price that analysts are seeking is about 13.5 USD. The highest that the company has witnessed is 20.80 USD. At the same time, the lowest clock was 3.92. The driving force behind this radical change was its recently policed earnings. The report was very comprehensive and displayed some hard numbers. The transparency that the company showed has given even more confidence to the investor.
About the company
The NYSE: PE at https://www.webull.com/quote/nyse-pe is quite different from conventional oil and natural gas companies. Their focus is on acquiring, developing and exploiting rich yet unconventional natural gas resources. They also put the thrust of their growth on the same resources.Majority of their customer base is in the state of Texas. Throughout the time, the company has managed to gain the trust of both; their customers and their shareholders. The company has been fairly successful with its strategies. The reflection of the same can be seen in the market as well.
The earnings report
The earnings report which turned has almost turned the fortunes of NYSE: PEreleased in the last quarter. The best thing about the report was its perception. Everyone from the market to experts perceived it very well. Currently, the recommendation for the stock is different from what it was in the last year. There is a common consensus when it comes to the recommendation; it is “strong-buy”. The company has a free cash flow of about 101.93 USD. And the EBITDA clocked at -4.58 billion USD, which is quite comfortable if you compare it to its peers. Overall the company is poised well at the moment.
Outlook and expectations
When it comes to the expectations ofNYSE: PE, people should not expect anything which is beyond reason. Yes, the positives are quite clear but the analysis has to be done very cautiously, especially at the time when the whole industry is bleeding. You have to look beyond the financial numbers, and see what those numbers represent. The sustainability of the business and its earning power is something that demands attention.
In the last quarter, the company has quoted its assets 8.61 billion USD, which is quite a good number. This is acompany that investors should keep an eye on, but how the industry fares, will be important. You can learn more about how to buy stocks online before investing. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.