SunTrust Banks set a $23.00 price objective on Parsley Energy (NYSE:PE) in a research note published on Tuesday, TipRanks reports. The firm currently has a buy rating on the oil and natural gas company’s stock.
Other equities analysts have also recently issued reports about the stock. MKM Partners began coverage on shares of Parsley Energy in a research report on Tuesday, August 27th. They issued a buy rating and a $26.00 price target for the company. Morgan Stanley set a $21.00 price target on shares of Parsley Energy and gave the company a hold rating in a research report on Monday, June 24th. ValuEngine upgraded shares of Parsley Energy from a strong sell rating to a sell rating in a research report on Monday, August 26th. Zacks Investment Research cut shares of Parsley Energy from a buy rating to a hold rating in a research report on Thursday, May 16th. Finally, TD Securities upped their price target on shares of Parsley Energy from $25.00 to $26.00 and gave the company a buy rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $28.60.
NYSE PE traded down $0.08 on Tuesday, hitting $18.23. The company’s stock had a trading volume of 20,934 shares, compared to its average volume of 3,756,195. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. Parsley Energy has a 1-year low of $13.72 and a 1-year high of $31.05. The company’s 50-day moving average is $16.51 and its 200 day moving average is $18.19. The firm has a market cap of $5.82 billion, a PE ratio of 13.24, a PEG ratio of 0.37 and a beta of 0.49.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was down 57.6% on a year-over-year basis. On average, equities analysts expect that Parsley Energy will post 1.38 EPS for the current year.
The business also recently announced a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, September 19th.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Parsley Energy by 1.3% during the second quarter. Vanguard Group Inc. now owns 24,613,756 shares of the oil and natural gas company’s stock worth $467,908,000 after buying an additional 306,322 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Parsley Energy by 1,349.5% during the second quarter. Nuveen Asset Management LLC now owns 19,366,848 shares of the oil and natural gas company’s stock worth $368,163,000 after acquiring an additional 18,030,770 shares in the last quarter. BlackRock Inc. increased its stake in shares of Parsley Energy by 2.7% in the second quarter. BlackRock Inc. now owns 13,546,873 shares of the oil and natural gas company’s stock worth $257,526,000 after buying an additional 354,766 shares during the period. FMR LLC increased its position in Parsley Energy by 7.2% during the 1st quarter. FMR LLC now owns 8,483,510 shares of the oil and natural gas company’s stock valued at $163,731,000 after purchasing an additional 571,136 shares during the period. Finally, Victory Capital Management Inc. increased its position in Parsley Energy by 22.2% during the 2nd quarter. Victory Capital Management Inc. now owns 8,321,521 shares of the oil and natural gas company’s stock valued at $158,192,000 after purchasing an additional 1,511,168 shares during the period. 82.72% of the stock is currently owned by institutional investors and hedge funds.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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