Parsley Energy, Inc. (NYSE:PE) has been given an average recommendation of “Buy” by the twenty-five analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.09.
A number of research firms have commented on PE. FBR & Co reaffirmed a “buy” rating on shares of Parsley Energy in a research report on Monday, May 15th. Scotiabank set a $43.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, May 6th. Barclays PLC reaffirmed an “overweight” rating and issued a $37.00 target price (down previously from $41.00) on shares of Parsley Energy in a research report on Saturday, April 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 target price on shares of Parsley Energy in a research report on Friday, June 16th. Finally, BMO Capital Markets set a $40.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Thursday, May 4th.
In related news, insider Bryan Sheffield sold 1,687,500 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $31.42, for a total transaction of $53,021,250.00. Following the sale, the insider now directly owns 12,059,224 shares in the company, valued at $378,900,818.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director A R. Alameddine bought 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $31.65 per share, for a total transaction of $110,775.00. Following the completion of the purchase, the director now directly owns 94,888 shares of the company’s stock, valued at approximately $3,003,205.20. The disclosure for this purchase can be found here. Insiders have sold 1,739,498 shares of company stock worth $54,689,426 in the last three months. Corporate insiders own 15.51% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Clearbridge Investments LLC raised its stake in Parsley Energy by 43.0% in the first quarter. Clearbridge Investments LLC now owns 2,535,505 shares of the oil and natural gas company’s stock worth $82,429,000 after buying an additional 762,610 shares during the last quarter. UBS Oconnor LLC raised its stake in Parsley Energy by 130.5% in the first quarter. UBS Oconnor LLC now owns 124,445 shares of the oil and natural gas company’s stock worth $4,046,000 after buying an additional 70,445 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Parsley Energy during the first quarter worth $666,000. Teachers Retirement System of The State of Kentucky raised its stake in Parsley Energy by 16.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 65,784 shares of the oil and natural gas company’s stock worth $2,139,000 after buying an additional 9,251 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in Parsley Energy during the first quarter worth $630,000. Hedge funds and other institutional investors own 91.42% of the company’s stock.
Shares of Parsley Energy (NYSE PE) traded up 0.52% during midday trading on Friday, reaching $27.31. 1,062,743 shares of the company were exchanged. The firm’s market capitalization is $6.73 billion. The firm has a 50-day moving average of $29.85 and a 200 day moving average of $32.32. Parsley Energy has a 52 week low of $24.12 and a 52 week high of $39.82.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. Parsley Energy had a negative net margin of 4.26% and a positive return on equity of 2.04%. The firm had revenue of $200.90 million during the quarter, compared to analyst estimates of $181.23 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Parsley Energy’s quarterly revenue was up 222.5% on a year-over-year basis. On average, equities research analysts expect that Parsley Energy will post $0.68 EPS for the current year.
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Parsley Energy Company Profile
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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