Shares of Parsley Energy Rise 15% on Improving Results
Shares of oil and gas producer Parsley Energy (NYSE: PE) are up 15.3% as of 11:30 a.m. EDT today. That bump comes after management announced better-than-expected earnings results.
Parsley Energy posted second-quarter results today that showed a $0.41-per-share gain compared to net income of $0.44 per share this time last year. Adjusting for a one-time tax-related gain, EPS was $0.32 for the quarter. Even though this was well below this time last year, it was in line with Wall Street expectations and it was able to accomplish this with lower realized oil and gas prices.
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