Shares of Parsley Energy Inc (NYSE:PE) have earned an average recommendation of “Buy” from the thirty ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.03.
PE has been the topic of several recent analyst reports. SunTrust Banks set a $30.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Wolfe Research raised shares of Parsley Energy from a “peer perform” rating to an “outperform” rating in a research note on Thursday, April 18th. ValuEngine downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 12th. Wells Fargo & Co raised their target price on shares of Parsley Energy from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Robert W. Baird set a $22.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Thursday, June 27th.
NYSE PE traded down $0.11 on Thursday, hitting $15.48. 4,232,181 shares of the company were exchanged, compared to its average volume of 5,270,437. The firm has a 50 day moving average of $16.96 and a two-hundred day moving average of $18.36. The company has a market cap of $5.20 billion, a P/E ratio of 10.98, a P/E/G ratio of 0.34 and a beta of 0.50. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.36. Parsley Energy has a 1-year low of $13.72 and a 1-year high of $31.05.
Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Parsley Energy had a return on equity of 5.75% and a net margin of 13.69%. The company had revenue of $198.50 million for the quarter, compared to analyst estimates of $467.53 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s quarterly revenue was down 57.6% compared to the same quarter last year. Research analysts anticipate that Parsley Energy will post 1.36 EPS for the current fiscal year.
In other Parsley Energy news, Director Jerry Windlinger purchased 1,985 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $17.50 per share, with a total value of $34,737.50. Following the acquisition, the director now owns 33,382 shares of the company’s stock, valued at approximately $584,185. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bryan Sheffield sold 100,000 shares of Parsley Energy stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the completion of the sale, the insider now owns 8,801,632 shares in the company, valued at $178,145,031.68. The disclosure for this sale can be found here. Insiders own 12.14% of the company’s stock.
Large investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Parsley Energy in the 1st quarter valued at about $37,000. Quantamental Technologies LLC bought a new stake in Parsley Energy in the 2nd quarter valued at about $53,000. Quadrant Capital Group LLC lifted its position in Parsley Energy by 462.5% in the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock valued at $71,000 after purchasing an additional 3,136 shares during the last quarter. Nisa Investment Advisors LLC bought a new stake in Parsley Energy in the 2nd quarter valued at about $76,000. Finally, Machina Capital S.A.S. bought a new stake in Parsley Energy in the 2nd quarter valued at about $86,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.
About Parsley Energy
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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