Parsley Energy Inc (NYSE:PE) Given Consensus Rating of “Buy” by Analysts

Parsley Energy Inc (NYSE:PE) has been given a consensus rating of “Buy” by the thirty-one analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $31.03.

PE has been the topic of several recent research reports. Goldman Sachs Group lowered shares of Parsley Energy to a “buy” rating in a report on Friday, April 12th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Monday, April 8th. Barclays reaffirmed a “buy” rating and set a $34.00 target price on shares of Parsley Energy in a report on Wednesday, March 13th. Jefferies Financial Group reduced their target price on shares of Parsley Energy from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Finally, SunTrust Banks set a $30.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a report on Tuesday, April 23rd.

In other news, insider Bryan Sheffield sold 100,000 shares of Parsley Energy stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the sale, the insider now owns 8,801,632 shares of the company’s stock, valued at approximately $178,145,031.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry Windlinger bought 1,985 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were 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 disclosure for this purchase can be found here. 12.14% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc boosted its stake in shares of Parsley Energy by 4.0% during the 3rd 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 in the last quarter. BlackRock Inc. lifted its position in Parsley Energy by 2.0% during the 4th quarter. BlackRock Inc. now owns 13,523,102 shares of the oil and natural gas company’s stock valued at $216,100,000 after acquiring an additional 261,593 shares during the period. FMR LLC lifted its position in Parsley Energy by 7.2% during the 1st quarter. FMR LLC now owns 8,483,510 shares of the oil and natural gas company’s stock valued at $163,731,000 after acquiring an additional 571,136 shares during the period. Victory Capital Management Inc. lifted its position in Parsley Energy by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 6,810,353 shares of the oil and natural gas company’s stock valued at $131,440,000 after acquiring an additional 138,131 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Parsley Energy by 52.4% during the 4th 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 acquiring an additional 1,068,635 shares during the period. 82.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Parsley Energy stock traded up $0.75 on Wednesday, hitting $18.96. 7,498,900 shares of the company traded hands, compared to its average volume of 5,350,509. The company’s 50-day simple moving average is $18.65. 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 company has a market capitalization of $5.85 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.32 and a beta of 0.50. Parsley Energy has a 12-month low of $14.17 and a 12-month high of $33.25.

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

About Parsley Energy

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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