Parsley Energy, Inc. (NYSE:PE) has earned a consensus rating of “Buy” from the thirty-two ratings firms that are presently covering the firm. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $36.88.
A number of equities analysts have weighed in on PE shares. Zacks Investment Research downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. KeyCorp increased their price target on shares of Parsley Energy from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 22nd. Drexel Hamilton started coverage on shares of Parsley Energy in a research note on Thursday, December 15th. They set a “buy” rating and a $44.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $50.00 price target (up previously from $40.00) on shares of Parsley Energy in a research note on Saturday, January 14th. Finally, Royal Bank Of Canada increased their price target on shares of Parsley Energy from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 17th.
Shares of Parsley Energy (NYSE:PE) opened at 32.31 on Wednesday. The stock’s 50 day moving average is $35.46 and its 200 day moving average is $34.41. The stock’s market capitalization is $5.80 billion. Parsley Energy has a 52-week low of $15.69 and a 52-week high of $39.82.
In other Parsley Energy news, insider Ryan Dalton sold 20,000 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $34.98, for a total transaction of $699,600.00. Following the completion of the transaction, the insider now directly owns 246,661 shares of the company’s stock, valued at approximately $8,628,201.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mike Hinson sold 25,000 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $36.18, for a total transaction of $904,500.00. Following the transaction, the insider now directly owns 446,653 shares of the company’s stock, valued at $16,159,905.54. The disclosure for this sale can be found here. Insiders have sold a total of 362,500 shares of company stock valued at $12,681,825 over the last three months. 24.17% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in PE. Elkfork Partners LLC bought a new stake in Parsley Energy during the fourth quarter worth approximately $726,000. Marshall Wace LLP increased its stake in Parsley Energy by 343.0% in the fourth quarter. Marshall Wace LLP now owns 197,768 shares of the company’s stock worth $6,969,000 after buying an additional 153,128 shares during the period. Keybank National Association OH increased its stake in Parsley Energy by 38.6% in the fourth quarter. Keybank National Association OH now owns 25,616 shares of the company’s stock worth $903,000 after buying an additional 7,140 shares during the period. Precocity Capital LP bought a new stake in Parsley Energy during the fourth quarter worth approximately $17,620,000. Finally, Nicholas Investment Partners LP increased its stake in Parsley Energy by 24.5% in the fourth quarter. Nicholas Investment Partners LP now owns 178,204 shares of the company’s stock worth $6,279,000 after buying an additional 35,095 shares during the period. Institutional investors own 80.34% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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