Parsley Energy (NYSE:PE) had its target price trimmed by Robert W. Baird from $22.00 to $19.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the oil and natural gas company’s stock.
PE has been the subject of a number of other research reports. MKM Partners began coverage on Parsley Energy in a research report on Tuesday, August 27th. They set a buy rating and a $26.00 price target for the company. Citigroup reduced their price target on Parsley Energy from $27.00 to $25.00 and set a buy rating for the company in a research report on Monday, September 23rd. Cowen set a $24.00 price target on Parsley Energy and gave the stock a buy rating in a research report on Wednesday, August 21st. TD Securities upped their price target on Parsley Energy from $25.00 to $26.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Co upped their price target on Parsley Energy from $28.00 to $33.00 and gave the stock an outperform rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $28.58.
NYSE:PE opened at $16.97 on Tuesday. Parsley Energy has a twelve month low of $13.72 and a twelve month high of $29.88. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $17.39 and a two-hundred day moving average price of $18.06. The company has a market cap of $5.11 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.32 and a beta of 0.47.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. The firm had revenue of $198.50 million during the quarter, compared to the consensus estimate of $467.53 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The business’s revenue was down 57.6% on a year-over-year basis. As a group, analysts anticipate that Parsley Energy will post 1.41 earnings per share for the current fiscal year.
The business also recently disclosed a — dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, September 19th. Parsley Energy’s dividend payout ratio is currently 8.51%.
Several institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP bought a new stake in Parsley Energy in the 2nd quarter valued at $29,000. Quantamental Technologies LLC bought a new stake in Parsley Energy in the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC bought a new stake in Parsley Energy in the 2nd quarter valued at $76,000. Machina Capital S.A.S. bought a new stake in Parsley Energy in the 2nd quarter valued at $86,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Parsley Energy by 22.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after acquiring an additional 958 shares during the period. Institutional investors own 82.62% of the company’s stock.
Parsley Energy Company Profile
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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