Shares of Parsley Energy Inc (NYSE:PE) have received an average rating of “Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $39.26.
Several research analysts have recently weighed in on PE shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $49.00 price target on shares of Parsley Energy in a report on Friday, July 20th. Stifel Nicolaus set a $58.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Wednesday, August 8th. TD Securities started coverage on shares of Parsley Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $37.00 price target 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 target for the company in a report on Wednesday, July 4th. Finally, JPMorgan Chase & Co. set a $49.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Tuesday, July 3rd.
In other Parsley Energy news, insider Bryan Sheffield sold 2,500,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $28.15, for a total transaction of $70,375,000.00. Following the sale, the insider now directly owns 9,033,063 shares of the company’s stock, valued at $254,280,723.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hemang Desai purchased 1,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were purchased at an average cost of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the transaction, the director now directly owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The disclosure for this purchase can be found here. Insiders have sold 2,763,328 shares of company stock valued at $78,318,180 in the last 90 days. 13.17% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PE. Envestnet Asset Management Inc. raised its position in Parsley Energy by 487.2% during the second quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock worth $124,000 after acquiring an additional 3,376 shares in the last quarter. MHI Funds LLC bought a new stake in Parsley Energy during the second quarter worth $163,000. Cerebellum GP LLC raised its position in Parsley Energy by 129.3% during the second 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. American International Group Inc. raised its position in Parsley Energy by 38.1% during the first quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in Parsley Energy during the second quarter worth $212,000. 84.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Parsley Energy stock traded down $0.06 on Friday, hitting $28.09. The company had a trading volume of 3,018,100 shares, compared to its average volume of 5,309,710. The stock has a market capitalization of $9.13 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 0.60 and a beta of -0.55. Parsley Energy has a twelve month low of $21.12 and a twelve month 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.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The company had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%. Equities analysts anticipate that Parsley Energy will post 1.58 EPS for the current fiscal year.
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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