Parsley Energy, Inc. (NYSE:PE) has been given a $43.00 price objective by analysts at Northland Securities in a report released on Monday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Northland Securities’ target price points to a potential upside of 50.93% from the company’s current price.
A number of other research analysts have also recently commented on PE. Citigroup Inc. started coverage on Parsley Energy in a research note on Wednesday, March 22nd. They set a “buy” rating and a $40.00 price target on the stock. UBS AG started coverage on Parsley Energy in a research note on Thursday, March 23rd. They set a “buy” rating and a $42.00 price target on the stock. Scotiabank set a $43.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, March 27th. Barclays PLC restated an “overweight” rating and set a $37.00 price target (down from $41.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. Finally, BMO Capital Markets set a $40.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $40.42.
Parsley Energy (NYSE PE) traded down 0.77% on Monday, reaching $28.49. The company’s stock had a trading volume of 4,512,650 shares. Parsley Energy has a 52 week low of $25.17 and a 52 week high of $39.82. The company has a 50 day moving average of $29.06 and a 200 day moving average of $31.90. The firm’s market capitalization is $7.02 billion.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The company had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $181.23 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. The firm’s revenue was up 222.5% compared to the same quarter last year. On average, analysts forecast that Parsley Energy will post $0.64 earnings per share for the current year.
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In other Parsley Energy news, insider Colin Roberts sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $29.56, for a total transaction of $88,680.00. Following the transaction, the insider now owns 232,726 shares of the company’s stock, valued at $6,879,380.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Dalton sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $32.56, for a total value of $976,800.00. Following the transaction, the insider now directly owns 329,957 shares in the company, valued at approximately $10,743,399.92. The disclosure for this sale can be found here. Insiders sold 1,723,900 shares of company stock worth $54,188,730 in the last three months. 15.51% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of PE. Mn Services Vermogensbeheer B.V. raised its position in shares of Parsley Energy by 539.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 36,014 shares of the oil and natural gas company’s stock valued at $999,000 after buying an additional 30,384 shares during the last quarter. Sprott Inc. raised its position in shares of Parsley Energy by 10.6% in the second quarter. Sprott Inc. now owns 470,000 shares of the oil and natural gas company’s stock valued at $13,042,000 after buying an additional 45,000 shares during the last quarter. Addison Capital Co raised its position in shares of Parsley Energy by 7.9% in the second quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock valued at $424,000 after buying an additional 1,114 shares during the last quarter. Atria Investments LLC raised its position in shares of Parsley Energy by 3.2% in the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after buying an additional 315 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in shares of Parsley Energy by 7.6% in the second quarter. Xact Kapitalforvaltning AB now owns 19,183 shares of the oil and natural gas company’s stock valued at $532,000 after buying an additional 1,351 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.
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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