Royal Bank of Canada set a $37.00 price target on Parsley Energy (NYSE:PE) in a research report released on Friday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities research analysts have also recently commented on PE. Seaport Global Securities cut shares of Parsley Energy from a buy rating to a hold rating in a research note on Tuesday, April 3rd. ValuEngine upgraded shares of Parsley Energy from a sell rating to a hold rating in a research note on Thursday, March 29th. Stifel Nicolaus set a $57.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research note on Wednesday, March 28th. SunTrust Banks set a $34.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research note on Thursday, March 29th. Finally, Piper Jaffray restated a buy rating and set a $39.00 target price on shares of Parsley Energy in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $36.71.
Shares of PE traded up $1.09 on Friday, reaching $29.31. The company’s stock had a trading volume of 7,737,516 shares, compared to its average volume of 5,518,466. 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 company has a market cap of $8,939.64, a price-to-earnings ratio of 42.48, a PEG ratio of 1.42 and a beta of -0.50. Parsley Energy has a 12-month low of $21.12 and a 12-month high of $32.90.
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 analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $311.49 million for the quarter, compared to the consensus estimate of $298.04 million. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The firm’s revenue was up 99.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. analysts predict that Parsley Energy will post 1.1 EPS for the current fiscal year.
In related news, insider Bryan Sheffield acquired 189,500 shares of Parsley Energy stock in a transaction dated Monday, February 26th. The shares were purchased 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 in the company, valued at approximately $303,780,879.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Colin Roberts sold 7,500 shares of Parsley Energy 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 sale, the insider now owns 254,204 shares in the company, valued at approximately $7,191,431.16. The disclosure for this sale can be found here. Company insiders own 15.51% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. raised 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 valued at $105,000 after buying an additional 2,864 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of Parsley Energy during the fourth quarter valued at approximately $128,000. American International Group Inc. bought a new stake in shares of Parsley Energy during the fourth quarter valued at approximately $155,000. IFM Investors Pty Ltd bought a new stake in shares of Parsley Energy during the third quarter valued at approximately $209,000. Finally, M&T Bank Corp bought a new stake in shares of Parsley Energy during the fourth quarter valued at approximately $249,000. Hedge funds and other institutional investors own 81.97% 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.
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