Parsley Energy Inc (PE) Receives Consensus Recommendation of “Buy” from Brokerages

Parsley Energy Inc (NYSE:PE) has been given an average rating of “Buy” by the twenty-eight analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $37.96.

Several equities analysts have recently issued reports on the company. SunTrust Banks set a $34.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Thursday, March 29th. Seaport Global Securities cut Parsley Energy from a “buy” rating to a “neutral” rating in a research note on Friday, May 4th. Piper Jaffray Companies reissued a “buy” rating and set a $39.00 target price on shares of Parsley Energy in a research note on Thursday, March 15th. Royal Bank of Canada set a $37.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Friday, April 13th. Finally, BMO Capital Markets set a $40.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Friday, May 4th.

In other Parsley Energy news, insider Colin Roberts sold 7,500 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $28.29, for a total value of $212,175.00. Following the sale, the insider now directly owns 254,204 shares of the company’s stock, valued at $7,191,431.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mike Hinson sold 41,681 shares of the business’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $31.95, for a total value of $1,331,707.95. Following the completion of the sale, the insider now directly owns 422,626 shares in the company, valued at $13,502,900.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,181 shares of company stock worth $1,859,783. 13.17% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. LS Investment Advisors LLC boosted its holdings in Parsley Energy by 67.0% in the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock worth $118,000 after acquiring an additional 1,639 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings in Parsley Energy by 7.8% in the first quarter. Xact Kapitalforvaltning AB now owns 24,792 shares of the oil and natural gas company’s stock worth $719,000 after acquiring an additional 1,797 shares in the last quarter. Amalgamated Bank boosted its holdings in Parsley Energy by 4.2% in the first quarter. Amalgamated Bank now owns 48,173 shares of the oil and natural gas company’s stock worth $1,397,000 after acquiring an additional 1,950 shares in the last quarter. American International Group Inc. boosted its holdings in Parsley Energy by 38.1% in the first quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 2,000 shares in the last quarter. Finally, BP Capital Fund Advisors LLC boosted its holdings in Parsley Energy by 1.1% in the first quarter. BP Capital Fund Advisors LLC now owns 190,030 shares of the oil and natural gas company’s stock worth $5,509,000 after acquiring an additional 2,101 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.

PE stock traded down $0.55 during midday trading on Friday, hitting $27.72. The company had a trading volume of 3,823,000 shares, compared to its average volume of 6,162,731. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.20 and a current ratio of 1.20. Parsley Energy has a 52 week low of $21.12 and a 52 week high of $33.43. The company has a market capitalization of $8.84 billion, a P/E ratio of 40.17, a PEG ratio of 0.60 and a beta of -0.51.

Parsley Energy (NYSE:PE) last posted its earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Parsley Energy had a return on equity of 3.71% and a net margin of 13.82%. The firm had revenue of $392.70 million for the quarter, compared to analysts’ expectations of $348.64 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The business’s revenue was up 95.5% compared to the same quarter last year. equities analysts predict that Parsley Energy will post 1.57 earnings per share for the current year.

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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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