Several other equities research analysts have also issued reports on the company. TheStreet lowered Parsley Energy from a b- rating to a c rating in a report on Tuesday. Stephens assumed coverage on Parsley Energy in a report on Thursday. They set an equal weight rating and a $31.00 price target for the company. ValuEngine lowered Parsley Energy from a sell rating to a strong sell rating in a report on Saturday, December 1st. Cowen assumed coverage on Parsley Energy in a report on Thursday, November 29th. They set an outperform rating and a $27.00 price target for the company. Finally, SunTrust Banks set a $35.00 price target on Parsley Energy and gave the company a buy rating in a report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $36.25.
Shares of Parsley Energy stock traded down $0.35 during trading on Friday, hitting $18.74. 10,325,574 shares of the stock traded hands, compared to its average volume of 5,711,143. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 0.40 and a beta of -0.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.70 and a quick ratio of 0.70. Parsley Energy has a twelve month low of $18.31 and a twelve month high of $33.43.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $493.44 million. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The firm’s revenue was up 112.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. As a group, equities research analysts predict that Parsley Energy will post 1.65 earnings per share for the current year.
In related news, Director A R. Alameddine bought 5,000 shares of Parsley Energy stock in a transaction that occurred on Tuesday, November 27th. The stock was purchased at an average cost of $21.10 per share, for a total transaction of $105,500.00. Following the acquisition, the director now owns 122,643 shares in the company, valued at $2,587,767.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders purchased 7,000 shares of company stock valued at $145,490. Corporate insiders own 13.17% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IFM Investors Pty Ltd increased its position in Parsley Energy by 15.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 13,954 shares of the oil and natural gas company’s stock worth $408,000 after buying an additional 1,907 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Parsley Energy by 15.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,006 shares of the oil and natural gas company’s stock worth $468,000 after buying an additional 2,198 shares during the period. DNB Asset Management AS increased its position in Parsley Energy by 8.6% in the 3rd quarter. DNB Asset Management AS now owns 27,791 shares of the oil and natural gas company’s stock worth $813,000 after buying an additional 2,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Parsley Energy by 5.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,667 shares of the oil and natural gas company’s stock worth $1,322,000 after buying an additional 2,265 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in Parsley Energy by 17.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 16,273 shares of the oil and natural gas company’s stock worth $493,000 after buying an additional 2,426 shares during the period. Hedge funds and other institutional investors own 83.02% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
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