Parsley Energy Inc (NYSE:PE) Receives $30.64 Average Target Price from Analysts

Parsley Energy Inc (NYSE:PE) has earned a consensus rating of “Buy” from the thirty analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $30.64.

A number of equities research analysts recently commented on PE shares. TD Securities decreased their price objective on TRANSAT AT from C$15.00 to C$11.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Williams Capital set a $30.00 price objective on Mdu Resources Group and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Evercore ISI raised Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 price objective for the company in a research note on Monday, May 6th. Robert W. Baird set a $25.00 price objective on Actuant and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, SunTrust Banks set a $75.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a research note on Tuesday, April 23rd.

Shares of PE stock traded up $0.11 on Friday, reaching $16.52. 3,177,476 shares of the stock were exchanged, compared to its average volume of 4,131,681. The company has a market capitalization of $5.23 billion, a PE ratio of 11.72, a PEG ratio of 0.31 and a beta of 0.53. Parsley Energy has a one year low of $14.17 and a one year high of $32.33. 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’s 50 day moving average price is $17.90.

Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $427.67 million for the quarter, compared to the consensus estimate of $410.04 million. Parsley Energy had a return on equity of 6.05% and a net margin of 14.09%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, analysts anticipate that Parsley Energy will post 1.48 earnings per share for the current year.

In other Parsley Energy news, Director Jerry Windlinger bought 1,985 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average cost of $17.50 per share, with a total value of $34,737.50. Following the completion of the purchase, the director now owns 33,382 shares in the company, valued at $584,185. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bryan Sheffield sold 100,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $20.24, for a total value of $2,024,000.00. Following the completion of the transaction, the insider now directly 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. 12.14% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of PE. Deutsche Bank AG grew its stake in Parsley Energy by 795.5% in the fourth quarter. Deutsche Bank AG now owns 2,846,929 shares of the oil and natural gas company’s stock valued at $45,491,000 after acquiring an additional 2,529,006 shares during the period. Norges Bank acquired a new position in Parsley Energy in the fourth quarter valued at about $34,928,000. Zimmer Partners LP lifted its holdings in shares of Parsley Energy by 320.0% in the fourth quarter. Zimmer Partners LP now owns 2,100,000 shares of the oil and natural gas company’s stock valued at $33,558,000 after purchasing an additional 1,600,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Parsley Energy by 52.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,108,353 shares of the oil and natural gas company’s stock valued at $49,668,000 after purchasing an additional 1,068,635 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Parsley Energy by 226.7% in the fourth quarter. Two Sigma Investments LP now owns 1,380,946 shares of the oil and natural gas company’s stock valued at $22,068,000 after purchasing an additional 958,252 shares in the last quarter. 82.30% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Parsley Energy (NYSE:PE)

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