Citigroup Inc. set a $51.00 price objective on Parsley Energy, Inc. (NYSE:PE) in a research note published on Tuesday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities analysts have also recently weighed in on the stock. Scotiabank set a $38.00 price objective on shares of Parsley Energy and gave the company a buy rating in a research report on Saturday, July 1st. FBR & Co reissued a buy rating on shares of Parsley Energy in a research report on Monday, May 15th. UBS AG reissued a buy rating and issued a $44.00 price objective (up from $42.00) on shares of Parsley Energy in a research report on Friday, May 5th. Barclays PLC decreased their price objective on shares of Parsley Energy from $32.00 to $30.00 and set an overweight rating for the company in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus reissued a buy rating and issued a $39.00 price objective on shares of Parsley Energy in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the stock. Parsley Energy has a consensus rating of Buy and a consensus target price of $40.65.
Shares of Parsley Energy (PE) traded up 0.53% during mid-day trading on Tuesday, hitting $24.52. The stock had a trading volume of 512,341 shares. The company’s 50 day moving average price is $27.32 and its 200 day moving average price is $29.81. The stock has a market cap of $6.07 billion, a P/E ratio of 136.98 and a beta of -0.09. Parsley Energy has a 12-month low of $24.25 and a 12-month high of $39.82.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $216.54 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. Equities research analysts predict that Parsley Energy will post $0.51 EPS for the current fiscal year.
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In related news, insider Colin Roberts sold 3,400 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $102,000.00. Following the sale, the insider now owns 229,326 shares in the company, valued at $6,879,780. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.51% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Parsley Energy during the first quarter valued at approximately $133,000. Shell Asset Management Co. raised its stake in shares of Parsley Energy by 18.8% in the first quarter. Shell Asset Management Co. now owns 13,425 shares of the oil and natural gas company’s stock valued at $436,000 after buying an additional 2,125 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Parsley Energy by 52.2% in the first quarter. ProShare Advisors LLC now owns 19,869 shares of the oil and natural gas company’s stock valued at $646,000 after buying an additional 6,814 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Parsley Energy by 27.0% in the first quarter. Profund Advisors LLC now owns 10,079 shares of the oil and natural gas company’s stock valued at $328,000 after buying an additional 2,140 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of Parsley Energy by 42.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,630 shares of the oil and natural gas company’s stock valued at $171,000 after buying an additional 1,678 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.
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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