Parsley Energy (PE) has tapered down its growth plans. The company, which has been rapidly growing its oil and gas volumes, outspent cash flows in 2018, but now, it is focusing on preserving its financial health and could turn around in the near future by generating positive free cash flows. Parsley Energy also benefits from having a strong balance sheet which bolsters its ability to withstand prolonged weakness in oil prices. The company's shares will likely outperform this year.
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Parsley Energy is a mid-cap energy company that produces oil