Parsley Energy (PE) has been one of the fastest-growing oil producers from the Permian Basin and it looks all set to continue growing in the future. The company has a large inventory of drilling locations and sufficient financial resources to fund its future growth. The improvement in oil prices in the Permian Basin will likely give a boost to the company’s earnings. Parsley Energy stock has underperformed this year, and I believe investors should consider buying on weakness.
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Parsley Energy is a Permian Basin-focused oil producer which mainly operates