Parsley Energy (NYSE:PE)‘s stock had its “buy” rating restated by investment analysts at KLR Group in a research note issued to investors on Monday. They presently have a $43.00 price objective on the oil and natural gas company’s stock. KLR Group’s target price points to a potential upside of 52.43% from the stock’s current price.
PE has been the subject of a number of other reports. TD Securities initiated coverage on shares of Parsley Energy in a report on Thursday, July 5th. They set a “buy” rating and a $37.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Parsley Energy from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 24th. ValuEngine downgraded shares of Parsley Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Parsley Energy in a report on Thursday, April 26th. Finally, Piper Jaffray Companies set a $46.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, June 13th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $38.73.
NYSE PE opened at $28.21 on Monday. Parsley Energy has a 52-week low of $21.12 and a 52-week high of $33.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.36. The firm has a market cap of $8.99 billion, a PE ratio of 40.88, a P/E/G ratio of 0.64 and a beta of -0.48.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. The company had revenue of $467.79 million for the quarter, compared to the consensus estimate of $431.02 million. equities analysts expect that Parsley Energy will post 1.57 EPS for the current year.
In other Parsley Energy news, insider Mike Hinson sold 250,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $30.24, for a total value of $7,560,000.00. Following the transaction, the insider now owns 663,978 shares in the company, valued at $20,078,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Colin Roberts sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $30.21, for a total transaction of $302,100.00. Following the completion of the transaction, the insider now owns 224,600 shares in the company, valued at approximately $6,785,166. The disclosure for this sale can be found here. 13.17% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Hartree Partners LP purchased a new position in shares of Parsley Energy in the first quarter valued at about $4,638,000. First Dallas Securities Inc. increased its position in shares of Parsley Energy by 178.4% in the second quarter. First Dallas Securities Inc. now owns 20,600 shares of the oil and natural gas company’s stock valued at $624,000 after acquiring an additional 13,200 shares during the period. Deltec Asset Management LLC increased its position in shares of Parsley Energy by 47.5% in the first quarter. Deltec Asset Management LLC now owns 204,100 shares of the oil and natural gas company’s stock valued at $5,917,000 after acquiring an additional 65,700 shares during the period. Scholtz & Company LLC increased its position in shares of Parsley Energy by 71.5% in the first quarter. Scholtz & Company LLC now owns 63,850 shares of the oil and natural gas company’s stock valued at $1,851,000 after acquiring an additional 26,615 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Parsley Energy by 96.8% in the first quarter. JPMorgan Chase & Co. now owns 9,608,948 shares of the oil and natural gas company’s stock valued at $278,563,000 after acquiring an additional 4,726,116 shares during the period. Hedge funds and other institutional investors own 81.82% 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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