Parsley Energy Inc (NYSE:PE) Director Hemang Desai purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was purchased at an average price of $27.32 per share, with a total value of $27,320.00. Following the purchase, the director now directly owns 31,886 shares of the company’s stock, valued at $871,125.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
PE stock traded down $0.49 on Thursday, hitting $26.21. The company’s stock had a trading volume of 75,581 shares, compared to its average volume of 4,779,601. Parsley Energy Inc has a 1 year low of $21.12 and a 1 year high of $33.43. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 0.63 and a beta of -0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.93.
Parsley Energy (NYSE:PE) last released its quarterly 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 net margin of 16.89% and a return on equity of 5.25%. The business had revenue of $467.79 million during the quarter, compared to analysts’ expectations of $431.02 million. analysts anticipate that Parsley Energy Inc will post 1.55 earnings per share for the current year.
Several analysts have recently weighed in on PE shares. TD Securities started coverage on shares of Parsley Energy in a research report on Thursday, July 5th. They set a “buy” rating and a $37.00 price objective for the company. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, July 4th. Seaport Global Securities upgraded shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, May 23rd. JPMorgan Chase & Co. set a $49.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, July 3rd. Finally, National Alliance Securities upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. Five analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.73.
Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in Parsley Energy by 487.2% in 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 buying an additional 3,376 shares during the period. LS Investment Advisors LLC increased its stake in Parsley Energy by 67.0% in 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 buying an additional 1,639 shares during the period. MHI Funds LLC acquired a new position in Parsley Energy in the 2nd quarter valued at $163,000. Cerebellum GP LLC increased its stake in 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 valued at $185,000 after buying an additional 3,439 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new position in Parsley Energy in the 2nd quarter valued at $212,000. Hedge funds and other institutional investors own 84.03% 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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