Parsley Energy Inc (NYSE:PE) Director Ron Brokmeyer acquired 1,000 shares of the stock in a transaction on Tuesday, December 4th. The shares were bought at an average price of $19.99 per share, for a total transaction of $19,990.00. Following the purchase, the director now owns 5,515 shares in the company, valued at $110,244.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of PE stock traded down $1.33 during trading hours on Thursday, reaching $18.48. The company’s stock had a trading volume of 161,038 shares, compared to its average volume of 5,839,493. The company has a market cap of $6.28 billion, a PE ratio of 26.99, a P/E/G ratio of 0.41 and a beta of -0.16. Parsley Energy Inc has a fifty-two week low of $19.80 and a fifty-two week high of $33.43. 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 issued its earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating the Zacks’ 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 was up 112.0% compared to the same quarter last year. On average, equities analysts predict that Parsley Energy Inc will post 1.65 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings 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 acquiring an additional 3,376 shares in the last quarter. Brasada Capital Management LP acquired a new stake in shares of Parsley Energy during the 3rd quarter valued at $219,000. Nordea Investment Management AB boosted its holdings in shares of Parsley Energy by 64.6% during the 3rd quarter. Nordea Investment Management AB now owns 9,540 shares of the oil and natural gas company’s stock valued at $279,000 after acquiring an additional 3,745 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Parsley Energy during the 2nd quarter valued at $286,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Parsley Energy during the 2nd quarter valued at $307,000. 83.02% of the stock is currently owned by institutional investors.
PE has been the topic of a number of recent research reports. Goldman Sachs Group upgraded Parsley Energy from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, November 27th. Ifs Securities initiated coverage on Parsley Energy in a research note on Monday, October 29th. They set a “strong-buy” rating on the stock. KLR Group restated a “buy” rating and set a $43.00 price objective on shares of Parsley Energy in a research note on Monday, August 20th. Macquarie upgraded Parsley Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $33.00 in a research note on Monday, November 5th. Finally, Jefferies Financial Group raised their price objective on Parsley Energy from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Parsley Energy currently has an average rating of “Buy” and an average target price of $37.00.
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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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