Parsley Energy (NYSE:PE) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $30.00 price objective on the oil and natural gas company’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 44.44% from the stock’s current price.
PE has been the topic of a number of other research reports. Williams Capital set a $38.00 target price on Parsley Energy and gave the company a “hold” rating in a research report on Wednesday, August 8th. Stifel Nicolaus set a $58.00 target price on Parsley Energy and gave the company a “buy” rating in a research report on Wednesday, August 8th. Wolfe Research downgraded Parsley Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 17th. Morgan Stanley lifted their target price on Parsley Energy from $32.00 to $35.00 and gave the company a “hold” rating in a research report on Wednesday, September 26th. Finally, Jefferies Financial Group lifted their target price on Parsley Energy from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. Six investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.62.
PE opened at $20.77 on Tuesday. Parsley Energy has a 1 year low of $20.44 and a 1 year high of $33.43. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 0.45 and a beta of -0.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 0.70.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $493.44 million. During the same quarter last year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 112.0% on a year-over-year basis. On average, analysts expect that Parsley Energy will post 1.61 EPS for the current fiscal year.
In other news, Director Hemang Desai acquired 1,000 shares of Parsley Energy stock in a transaction dated Tuesday, September 4th. The stock was bought at an average price of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the acquisition, the director now directly owns 31,886 shares in the company, valued at approximately $871,125.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director A R. Alameddine acquired 5,000 shares of Parsley Energy stock in a transaction dated Tuesday, November 27th. The shares were purchased at an average price of $21.10 per share, with a total value of $105,500.00. Following the acquisition, the director now owns 122,643 shares of the company’s stock, valued at $2,587,767.30. The disclosure for this purchase can be found here. Company insiders own 13.17% of the company’s stock.
Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Parsley Energy by 487.2% in the second 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 in the last quarter. Brasada Capital Management LP acquired a new stake in shares of Parsley Energy in the third quarter valued at approximately $219,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Parsley Energy in the second quarter valued at approximately $286,000. Nordea Investment Management AB raised its position in shares of Parsley Energy by 64.6% in the third quarter. Nordea Investment Management AB now owns 9,540 shares of the oil and natural gas company’s stock valued at $279,000 after buying an additional 3,745 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Parsley Energy in the second quarter valued at approximately $307,000. Institutional investors own 87.91% 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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