Parsley Energy (PE) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Parsley Energy (NYSE:PE) from a strong sell rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.

A number of other equities research analysts also recently weighed in on the stock. Morgan Stanley reaffirmed a hold rating and set a $26.00 price objective on shares of Parsley Energy in a research report on Friday, December 21st. Stephens raised shares of Parsley Energy from an equal rating to an overweight rating and set a $30.00 price objective for the company in a research report on Tuesday, January 29th. Barclays started coverage on shares of Parsley Energy in a research report on Wednesday, January 16th. They set an overweight rating and a $38.00 price objective for the company. Citigroup raised shares of Parsley Energy from a neutral rating to a buy rating in a research report on Friday, December 21st. Finally, BMO Capital Markets lowered their price objective on shares of Parsley Energy to $35.00 and set an outperform rating for the company in a research report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy currently has a consensus rating of Buy and a consensus price target of $31.68.

Shares of NYSE:PE opened at $21.30 on Thursday. 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 fifty-two week low of $14.17 and a fifty-two week high of $33.43. The stock has a market cap of $6.75 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 0.43 and a beta of 0.40.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Thursday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). Parsley Energy had a net margin of 20.21% and a return on equity of 6.43%. The business had revenue of $454.90 million for the quarter, compared to the consensus estimate of $456.66 million. During the same period in the prior year, the company earned $0.30 EPS. Parsley Energy’s quarterly revenue was up 46.0% on a year-over-year basis. On average, equities analysts expect that Parsley Energy will post 1.36 earnings per share for the current fiscal year.

In other news, insider Colin Roberts sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total value of $65,555.00. Following the completion of the sale, the insider now directly owns 274,926 shares of the company’s stock, valued at approximately $5,149,363.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mike Hinson sold 41,727 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.43, for a total transaction of $769,028.61. Following the completion of the sale, the insider now directly owns 398,275 shares of the company’s stock, valued at $7,340,208.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,227 shares of company stock valued at $894,584. Company insiders own 13.17% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc lifted its stake in shares of Parsley Energy by 4.0% in the 3rd quarter. Vanguard Group Inc now owns 23,467,865 shares of the oil and natural gas company’s stock worth $686,436,000 after acquiring an additional 901,815 shares during the period. Vanguard Group Inc. lifted its stake in Parsley Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 23,467,865 shares of the oil and natural gas company’s stock valued at $686,436,000 after purchasing an additional 901,815 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Parsley Energy by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 15,220,803 shares of the oil and natural gas company’s stock valued at $445,208,000 after purchasing an additional 865,292 shares during the last quarter. BlackRock Inc. lifted its stake in Parsley Energy by 2.0% during the fourth quarter. BlackRock Inc. now owns 13,523,102 shares of the oil and natural gas company’s stock valued at $216,100,000 after purchasing an additional 261,593 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in Parsley Energy by 1.4% during the third quarter. TIAA CREF Investment Management LLC now owns 10,852,724 shares of the oil and natural gas company’s stock valued at $317,442,000 after purchasing an additional 148,086 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

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.

See Also: What is Green Investing?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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.