Parsley Energy (PE) PT Raised to $21 at KeyBanc

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Go back to Parsley Energy (PE) PT Raised to $21 at KeyBanc

Parsley Energy (PE) Raises Quarterly Dividend 66.7% to $0.05, 0.3% Yield; Lowers FY20 Capital Budget, Provides FY20 Guidance

January 23, 2020 4:13 PM EST

Parsley Energy (NYSE: PE) declared a quarterly dividend of $0.05 per share. This is a 66.7% increase from the prior dividend of $0.03.

The dividend will be payable on March 20, 2020, to stockholders of record on March 10, 2020, with an ex-dividend date of March 23, 2020.

The annual yield on the dividend is 0.3 percent.

Additionally, Parsley provided an overview of its 2020 development program and updated expectations for certain full-year 2019 results.

Summary Comment and Outlook

"Parsley's 2019 action plan was a resounding success as our team delivered a step-change improvement in capital efficiency and inflected to free cash flow... More