CNBC's Jim Cramer on Wednesday said investors could expect to see more mergers and acquisitions in the energy and oil space in 2019.
"Three weeks ago, I did make a called shot. I came out here and explained that this market was in dire need of mergers and acquisitions," he said."We've simply got too many publicly traded companies, something that's only going to get worse as more and more privately held unicorns, like Pinterest tonight, keep coming public."
The debt-laden balance sheet is the only problem with the company, Cramer said. Still, he thinks it could worth a lot to Exxon than it is as a standalone company. Parsley Energy has a $6.6 billion market cap with holdings in two of the best sub-areas of the Permian Basin, the host said. The independent exploration and production company could be ready to reap the benefits of its investments, he said.
Source: News Formal (newsformal.com)
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