Watch List Stock News: Parsley Energy (NYSE:PE)

Parsley Energy (NYSE:PE) stock identified change of 32.14% away from 52-week low price and recently located move of -18.00% off 52-week high price. It has market worth of $5.62B and dividend yield of 0.66%. PE stock has been recorded 6.74% away from 50 day moving average and 2.62% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.75% off 20-day moving average.

On Jan. 10, 2020, Parsley Energy (NYSE:PE) disclosed 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.

Acquisition Details

At the effective time of the acquisition, each share of Jagged Peak common stock was converted into the right to receive 0.447 shares of Parsley Class A common stock. As a result of the transaction, Jagged Peak common stock will no longer be listed for trading on NYSE, and Jagged Peak will suspend its reporting obligations under the Securities Exchange Act of 1934.

In connection with the closing of the transaction, Parsley announced the appointment of S. Wil VanLoh, Jr. and Jim Kleckner to its Board of Directors. Mr. VanLoh is the Founder and Chief Executive Officer of Quantum Energy Partners and formerly served as a Jagged Peak director. Mr. Kleckner was formerly President and Chief Executive Officer of Jagged Peak and also served as a Jagged Peak director.

The Basic Materials sector company, Parsley Energy noticed change of -1.68% to $18.13 along volume of 6941589 shares in recent session compared to an average volume of 6.68M shares. The stock observed return of -7.41% in 5 days trading activity. The stock was at 12.33% over one month performance. PE’s shares are at 10.21% for the quarter and driving a -4.63% return over the course of the past year and is now at -4.12% since this point in 2018.

The average volatility for the week at 3.21% and for month was at 2.58%. There are 310.03M shares outstanding and 268.69M shares are floated in market. Right now the stock beta is 0.7.

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