Shares of Parsley Energy Inc (NYSE:PE) have been given a consensus rating of “Buy” by the twenty-nine analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.38.
Several research analysts recently issued reports on PE shares. TD Securities started coverage on Parsley Energy in a research report on Thursday, July 5th. They set a “buy” rating and a $37.00 target price on the stock. KLR Group reaffirmed a “buy” rating and set a $43.00 target price on shares of Parsley Energy in a research report on Monday, August 20th. Morgan Stanley lifted their target price on Parsley Energy from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 24th. Piper Jaffray Companies set a $46.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, June 13th. Finally, Stifel Nicolaus set a $58.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, August 8th.
In other news, insider Colin Roberts sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $30.21, for a total transaction of $302,100.00. Following the transaction, the insider now owns 224,600 shares of the company’s stock, valued at approximately $6,785,166. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hemang Desai purchased 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 31,886 shares in the company, valued at $871,125.52. The disclosure for this purchase can be found here. Insiders have sold a total of 2,773,328 shares of company stock worth $78,620,280 in the last ninety days. Insiders own 13.17% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC lifted its position in shares of Parsley Energy by 67.0% during 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 last quarter. Envestnet Asset Management Inc. lifted its position in shares of Parsley Energy by 487.2% during 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 last quarter. MHI Funds LLC purchased a new position in shares of Parsley Energy during the 2nd quarter valued at $163,000. Cerebellum GP LLC raised its stake in shares of Parsley Energy by 129.3% during 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 purchasing an additional 3,439 shares during the period. Finally, American International Group Inc. raised its stake in shares of Parsley Energy by 38.1% during the 1st quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock valued at $210,000 after purchasing an additional 2,000 shares during the period. 84.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PE opened at $28.26 on Monday. The company has a market cap of $8.96 billion, a P/E ratio of 40.96, a P/E/G ratio of 0.65 and a beta of -0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.93 and a current ratio of 0.93. Parsley Energy has a 12-month low of $21.12 and a 12-month high of $33.43.
Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The company had revenue of $467.79 million for the quarter, compared to analysts’ expectations of $431.02 million. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%. research analysts predict that Parsley Energy will post 1.55 earnings per share 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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