Parsley is the next Diamondback Energy. It is a well funded pure play on the Permian Basin. It has strong production growth locked in. More than 100% of their 2016 oil production is hedged, so it has very predictable cash flows locked in.
I have updated my forecast model and it will be posted to the EPG website this evening.
My valuation is $23.50, compared to First Call's price target of $22.21.
If oil prices do rebound by year-end, there is a lot of upside in PE's share price.
Parsley Energy (PE)
Parsley Energy (PE)
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group