Parsley Energy (NYSE:PE) Given New $26.00 Price Target at TD Securities

Parsley Energy (NYSE:PE) had its price target boosted by analysts at TD Securities from $25.00 to $26.00 in a report released on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. TD Securities’ price objective would suggest a potential upside of 60.00% from the stock’s current price.

Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Parsley Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. SunTrust Banks set a $30.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Evercore ISI raised Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 target price for the company in a research report on Monday, May 6th. KeyCorp raised their target price on Parsley Energy from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Williams Capital reaffirmed a “hold” rating and set a $26.00 target price on shares of Parsley Energy in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $30.31.

Shares of PE traded up $2.12 during trading hours on Wednesday, reaching $16.25. The stock had a trading volume of 984,116 shares, compared to its average volume of 4,580,361. The company has a market cap of $4.71 billion, a PE ratio of 11.45, a PEG ratio of 0.30 and a beta of 0.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43. Parsley Energy has a 12 month low of $13.72 and a 12 month high of $32.00. The stock has a 50-day moving average price of $17.30.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $467.53 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 down 57.6% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. On average, research analysts predict that Parsley Energy will post 1.38 EPS for the current year.

In other news, Director Jerry Windlinger bought 1,985 shares of Parsley Energy stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the purchase, the director now directly owns 33,382 shares in the company, valued at approximately $584,185. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan Sheffield sold 100,000 shares of the firm’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 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. Company insiders own 12.14% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PE. Cullen Frost Bankers Inc. acquired a new stake in shares of Parsley Energy in the 1st quarter valued at about $37,000. Quadrant Capital Group LLC boosted its stake in Parsley Energy by 462.5% during the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock valued at $71,000 after purchasing an additional 3,136 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Parsley Energy during the 2nd quarter valued at about $76,000. Machina Capital S.A.S. acquired a new position in Parsley Energy during the 2nd quarter valued at about $86,000. Finally, Advisor Group Inc. boosted its stake in Parsley Energy by 15.0% during the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock valued at $88,000 after purchasing an additional 719 shares during the last quarter. Institutional investors own 82.60% 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.

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Analyst Recommendations for Parsley Energy (NYSE:PE)

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