Parsley Energy (NYSE:PE) – Stock analysts at Piper Jaffray raised their FY2018 earnings estimates for shares of Parsley Energy in a report issued on Wednesday, April 18th. Piper Jaffray analyst K. Harrison now anticipates that the oil and natural gas company will post earnings of $1.45 per share for the year, up from their previous forecast of $1.17. Piper Jaffray currently has a “Buy” rating and a $39.00 target price on the stock. Piper Jaffray also issued estimates for Parsley Energy’s FY2019 earnings at $2.11 EPS.
A number of other research firms have also recently weighed in on PE. ValuEngine raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley upped their target price on shares of Parsley Energy from $28.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, April 20th. SunTrust Banks set a $38.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Monday, April 16th. Credit Suisse Group set a $38.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus set a $57.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. Parsley Energy currently has a consensus rating of “Buy” and a consensus price target of $37.00.
NYSE:PE opened at $29.73 on Monday. Parsley Energy has a 52-week low of $21.12 and a 52-week high of $32.90. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37. The stock has a market cap of $9,627.07, a PE ratio of 43.09, a P/E/G ratio of 1.50 and a beta of -0.50.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The company had revenue of $311.49 million for the quarter, compared to the consensus estimate of $298.04 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The business’s revenue was up 99.8% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. Assetmark Inc. lifted its position in shares of Parsley Energy by 417.5% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after purchasing an additional 2,864 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Parsley Energy during the fourth quarter worth approximately $128,000. American International Group Inc. acquired a new position in shares of Parsley Energy during the fourth quarter worth approximately $155,000. M&T Bank Corp acquired a new position in shares of Parsley Energy during the fourth quarter worth approximately $249,000. Finally, Mariner Wealth Advisors LLC acquired a new position in shares of Parsley Energy during the fourth quarter worth approximately $309,000. Institutional investors own 81.94% of the company’s stock.
In other news, insider Colin Roberts sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $28.29, for a total transaction of $212,175.00. Following the transaction, the insider now directly owns 254,204 shares in the company, valued at $7,191,431.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan Sheffield bought 189,500 shares of Parsley Energy stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $26.34 per share, for a total transaction of $4,991,430.00. Following the completion of the transaction, the insider now directly owns 11,533,063 shares of the company’s stock, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. 13.17% of the stock is owned by insiders.
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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.
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