Morgan Stanley Analysts Give Parsley Energy (NYSE:PE) a $21.00 Price Target

Morgan Stanley set a $21.00 price target on Parsley Energy (NYSE:PE) in a research note published on Monday morning, Stock Target Advisor reports. The brokerage currently has a hold rating on the oil and natural gas company’s stock.

Other equities analysts have also issued research reports about the company. ValuEngine raised Parsley Energy from a strong sell rating to a sell rating in a research note on Thursday, April 18th. Evercore ISI raised Parsley Energy from an in-line rating to an outperform rating and set a $19.72 price target on the stock in a research note on Monday, May 6th. SunTrust Banks set a $30.00 price target on Parsley Energy and gave the company a buy rating in a research note on Tuesday, April 23rd. Zacks Investment Research lowered Parsley Energy from a buy rating to a hold rating in a research note on Thursday, April 18th. Finally, Goldman Sachs Group lowered Parsley Energy to a buy rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $30.68.

Parsley Energy stock opened at $18.96 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 0.32 and a beta of 0.50. The business has a fifty day simple moving average of $18.65. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.25.

Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, May 1st. The oil and natural gas company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $427.67 million during the quarter, compared to analyst estimates of $410.04 million. Parsley Energy had a return on equity of 6.05% and a net margin of 14.09%. Parsley Energy’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, equities analysts forecast that Parsley Energy will post 1.56 EPS for the current year.

In other Parsley Energy news, insider Colin Roberts sold 3,000 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $20.00, for a total value of $60,000.00. Following the completion of the sale, the insider now directly owns 271,926 shares in the company, valued at $5,438,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bryan Sheffield sold 100,000 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $20.24, for a total value of $2,024,000.00. Following the completion of the sale, the insider now owns 8,801,632 shares of the company’s stock, valued at $178,145,031.68. The disclosure for this sale can be found here. Corporate insiders own 12.14% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new stake in shares of Parsley Energy in the first quarter worth about $37,000. Quadrant Capital Group LLC increased its holdings in shares of Parsley Energy by 462.5% in the first quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock worth $71,000 after acquiring an additional 3,136 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Parsley Energy by 15.0% in the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock worth $88,000 after acquiring an additional 719 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Parsley Energy in the first quarter worth about $134,000. Finally, Comerica Bank increased its holdings in shares of Parsley Energy by 6.8% in the first quarter. Comerica Bank now owns 11,311 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 720 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.

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.

Further Reading: Why are analyst ratings important in trading stocks?

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.