Parsley Energy (NYSE:PE)‘s stock had its “buy” rating reiterated by equities researchers at Barclays in a report released on Wednesday. They currently have a $34.00 price objective on the oil and natural gas company’s stock. Barclays‘s target price indicates a potential upside of 88.16% from the stock’s previous close.
PE has been the subject of several other reports. JPMorgan Chase & Co. set a $28.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Friday, December 7th. Williams Capital reissued a “hold” rating and issued a $25.00 price target on shares of Parsley Energy in a report on Wednesday, December 12th. TheStreet cut shares of Parsley Energy from a “b-” rating to a “c” rating in a research report on Tuesday, December 4th. Northland Securities restated a “buy” rating and set a $29.00 price objective on shares of Parsley Energy in a research report on Friday, February 22nd. Finally, Zacks Investment Research cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and an average target price of $32.27.
Shares of NYSE:PE opened at $18.07 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.35. Parsley Energy has a one year low of $14.17 and a one year high of $33.43. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.36 and a beta of 0.39.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.04). Parsley Energy had a net margin of 20.21% and a return on equity of 6.43%. The firm had revenue of $454.90 million during the quarter, compared to the consensus estimate of $456.66 million. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up 46.0% on a year-over-year basis. On average, equities analysts expect that Parsley Energy will post 1.38 earnings per share for the current fiscal year.
In related news, insider Mike Hinson sold 41,727 shares of Parsley Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $18.43, for a total value of $769,028.61. Following the transaction, the insider now owns 398,275 shares in the company, valued at approximately $7,340,208.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Colin Roberts sold 3,500 shares of Parsley Energy stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total transaction of $65,555.00. Following the completion of the transaction, the insider now owns 274,926 shares in the company, valued at approximately $5,149,363.98. The disclosure for this sale can be found here. 13.17% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of PE. Skandinaviska Enskilda Banken AB publ grew its position in shares of Parsley Energy by 42.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,800 shares of the oil and natural gas company’s stock worth $316,000 after acquiring an additional 3,200 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Parsley Energy in the 3rd quarter worth approximately $542,000. Bessemer Group Inc. grew its position in shares of Parsley Energy by 7.3% in the 3rd quarter. Bessemer Group Inc. now owns 74,292 shares of the oil and natural gas company’s stock worth $2,173,000 after acquiring an additional 5,024 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Parsley Energy by 768.4% in the 3rd quarter. SG Americas Securities LLC now owns 123,976 shares of the oil and natural gas company’s stock worth $3,626,000 after acquiring an additional 109,700 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in shares of Parsley Energy by 27.4% in the 3rd quarter. GW&K Investment Management LLC now owns 607,483 shares of the oil and natural gas company’s stock worth $17,769,000 after acquiring an additional 130,706 shares in the last quarter. Institutional investors own 84.52% of the company’s stock.
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.
Featured Article: Current Ratio
Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.