BidaskClub lowered shares of Parsley Energy, Inc. (NYSE:PE) from a sell rating to a strong sell rating in a research note released on Tuesday morning.
PE has been the topic of a number of other research reports. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research note on Monday, July 17th. BMO Capital Markets set a $40.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research note on Thursday, May 4th. UBS AG reiterated a buy rating and set a $44.00 price target (up previously from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. Seaport Global Securities downgraded shares of Parsley Energy from a buy rating to a neutral rating and set a $30.00 price target on the stock. in a research note on Monday, July 17th. Finally, Citigroup Inc. set a $50.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $40.69.
Parsley Energy (NYSE:PE) opened at 25.35 on Tuesday. The stock has a 50 day moving average of $27.59 and a 200-day moving average of $30.15. The company has a market capitalization of $6.28 billion, a P/E ratio of 141.62 and a beta of -0.09. Parsley Energy has a 52-week low of $24.68 and a 52-week high of $39.82.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm’s quarterly revenue was up 99.9% on a year-over-year basis. On average, equities analysts forecast that Parsley Energy will post $0.53 earnings per share for the current year.
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In related news, insider Colin Roberts sold 3,400 shares of Parsley Energy stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.00, for a total value of $102,000.00. Following the completion of the transaction, the insider now directly owns 229,326 shares of the company’s stock, valued at $6,879,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director A R. Alameddine purchased 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $31.65 per share, with a total value of $110,775.00. Following the completion of the acquisition, the director now directly owns 94,888 shares of the company’s stock, valued at $3,003,205.20. The disclosure for this purchase can be found here. Insiders own 15.51% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PE. Advisor Group Inc. boosted its position in Parsley Energy by 23.9% in the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 781 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Parsley Energy during the first quarter worth about $133,000. Creative Planning boosted its position in Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock worth $147,000 after buying an additional 4,425 shares in the last quarter. Fortaleza Asset Management Inc. boosted its position in Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock worth $148,000 after buying an additional 1,520 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 300 shares in the last quarter. 91.14% of the stock is owned by institutional investors and hedge funds.
About Parsley Energy
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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