Several other equities research analysts also recently commented on PE. Wells Fargo & Co. reaffirmed a hold rating on shares of Parsley Energy in a report on Saturday, June 4th. Zacks Investment Research raised shares of Parsley Energy from a hold rating to a buy rating and set a $30.00 price objective on the stock in a report on Thursday, June 30th. Barclays PLC increased their price target on shares of Parsley Energy from $30.00 to $36.00 and gave the stock an overweight rating in a report on Friday, August 5th. Wunderlich began coverage on shares of Parsley Energy in a report on Friday, June 17th. They issued a buy rating and a $32.00 price target on the stock. Finally, Imperial Capital increased their price target on shares of Parsley Energy from $34.00 to $40.00 and gave the stock an outperform rating in a report on Friday, August 5th. Six investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Parsley Energy presently has a consensus rating of Buy and an average price target of $30.57.
Parsley Energy (NYSE:PE) opened at 33.09 on Monday. Parsley Energy has a 52-week low of $14.51 and a 52-week high of $35.00. The company’s market capitalization is $5.67 billion. The company’s 50-day moving average is $33.37 and its 200-day moving average is $27.43.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The business had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $92.04 million. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. Parsley Energy’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. On average, analysts expect that Parsley Energy will post $0.10 earnings per share for the current fiscal year.
In other Parsley Energy news, Director David Henry Smith sold 6,250 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $32.99, for a total transaction of $206,187.50. Following the completion of the transaction, the director now owns 30,861 shares of the company’s stock, valued at $1,018,104.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mike Hinson sold 25,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $27.42, for a total value of $685,500.00. Following the transaction, the insider now directly owns 646,653 shares of the company’s stock, valued at approximately $17,731,225.26. The disclosure for this sale can be found here. Company insiders own 24.17% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Parsley Energy during the fourth quarter valued at approximately $13,494,000. Virginia Retirement System purchased a new position in shares of Parsley Energy during the first quarter valued at approximately $386,000. TIAA CREF Investment Management LLC raised its position in shares of Parsley Energy by 81.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,642,321 shares of the company’s stock valued at $82,316,000 after buying an additional 1,637,937 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Parsley Energy by 32.0% in the first quarter. Teachers Advisors Inc. now owns 2,116,391 shares of the company’s stock valued at $47,830,000 after buying an additional 513,401 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock valued at $151,000 after buying an additional 3,814 shares in the last quarter. 84.49% of the stock is owned by institutional investors and hedge funds.
About Parsley Energy
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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