Several other research firms also recently commented on PE. BMO Capital Markets set a $40.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research report on Friday, May 4th. Zacks Investment Research downgraded shares of Parsley Energy from a buy rating to a hold rating in a research report on Tuesday, July 24th. Seaport Global Securities downgraded shares of Parsley Energy from a buy rating to a neutral rating in a research report on Friday, May 4th. SunTrust Banks set a $45.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research report on Monday, May 7th. Finally, KLR Group reiterated a buy rating and set a $43.00 target price on shares of Parsley Energy in a research report on Monday. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $38.73.
NYSE:PE opened at $28.11 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.93 and a current ratio of 0.93. Parsley Energy has a one year low of $21.12 and a one year high of $33.43. The company has a market cap of $8.99 billion, a P/E ratio of 40.74, a price-to-earnings-growth ratio of 0.64 and a beta of -0.48.
Parsley Energy (NYSE:PE) last posted its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. The business had revenue of $467.79 million for the quarter, compared to analyst estimates of $431.02 million. analysts expect that Parsley Energy will post 1.57 earnings per share for the current fiscal year.
In other news, insider Colin Roberts sold 10,000 shares of Parsley Energy stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $30.21, for a total value of $302,100.00. Following the completion of the sale, the insider now owns 224,600 shares in the company, valued at approximately $6,785,166. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mike Hinson sold 250,000 shares of Parsley Energy stock in a transaction on Friday, August 10th. The shares were sold at an average price of $30.24, for a total transaction of $7,560,000.00. Following the completion of the sale, the insider now owns 663,978 shares of the company’s stock, valued at approximately $20,078,694.72. The disclosure for this sale can be found here. Insiders own 13.17% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in Parsley Energy by 487.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock valued at $124,000 after purchasing an additional 3,376 shares in the last quarter. LS Investment Advisors LLC increased its stake in Parsley Energy by 67.0% during the 1st quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock valued at $118,000 after purchasing an additional 1,639 shares in the last quarter. MHI Funds LLC bought a new stake in shares of Parsley Energy in the 2nd quarter worth $163,000. Cerebellum GP LLC grew its stake in shares of Parsley Energy by 129.3% in the 2nd quarter. Cerebellum GP LLC now owns 6,099 shares of the oil and natural gas company’s stock worth $185,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Parsley Energy in the 2nd quarter worth $212,000. Institutional investors and hedge funds own 81.82% of the company’s stock.
About Parsley Energy
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.
Further Reading: Market Capitalization
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