Parsley Energy (NYSE:PE)‘s stock had its “hold” rating reiterated by equities research analysts at Morgan Stanley in a research report issued on Friday, December 21st. They currently have a $26.00 price objective on the oil and natural gas company’s stock. Morgan Stanley’s price target points to a potential upside of 36.99% from the stock’s previous close.
A number of other research firms have also weighed in on PE. Wolfe Research lowered shares of Parsley Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 17th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, October 22nd. Wells Fargo & Co started coverage on shares of Parsley Energy in a research report on Wednesday, October 24th. They issued an “outperform” rating and a $47.00 price objective on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Parsley Energy in a research report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $46.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.48.
Shares of Parsley Energy stock traded up $0.28 during trading hours on Friday, reaching $18.98. The company’s stock had a trading volume of 5,683,928 shares, compared to its average volume of 7,021,903. Parsley Energy has a one year low of $14.17 and a one year high of $33.43. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 0.42 and a beta of 0.23. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Parsley Energy had a net margin of 21.70% and a return on equity of 6.77%. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $493.44 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 112.0% compared to the same quarter last year. On average, research analysts forecast that Parsley Energy will post 1.55 EPS for the current year.
In other news, Director A R. Alameddine acquired 5,000 shares of Parsley Energy stock in a transaction that occurred on Tuesday, November 27th. The stock was bought at an average price of $21.10 per share, with a total value of $105,500.00. Following the completion of the purchase, the director now owns 122,643 shares in the company, valued at $2,587,767.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 7,000 shares of company stock valued at $145,490. 13.17% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Parsley Energy by 11.6% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,950 shares of the oil and natural gas company’s stock valued at $877,000 after purchasing an additional 3,008 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Parsley Energy by 17.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 955,564 shares of the oil and natural gas company’s stock worth $28,935,000 after acquiring an additional 145,243 shares during the last quarter. Luminus Management LLC lifted its holdings in shares of Parsley Energy by 133.3% in the 2nd quarter. Luminus Management LLC now owns 1,633,291 shares of the oil and natural gas company’s stock worth $49,456,000 after acquiring an additional 933,291 shares during the last quarter. Korea Investment CORP bought a new stake in shares of Parsley Energy in the 2nd quarter worth approximately $654,000. Finally, Credit Suisse AG lifted its holdings in shares of Parsley Energy by 42.2% in the 3rd quarter. Credit Suisse AG now owns 502,991 shares of the oil and natural gas company’s stock worth $14,713,000 after acquiring an additional 149,203 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.
Parsley Energy Company Profile
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.
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