Parsley Energy Inc (NYSE:PE) has been given an average recommendation of “Buy” by the thirty analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, twenty-three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.03.

A number of equities analysts have recently commented on the stock. SunTrust Banks set a $30.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a report on Tuesday, April 23rd. TD Securities lifted their target price on shares of Parsley Energy from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Co lifted their target price on shares of Parsley Energy from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday. Evercore ISI raised shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 target price on the stock in a report on Monday, May 6th. Finally, Zacks Investment Research cut shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 16th.

In related news, Director Jerry Windlinger purchased 1,985 shares of the stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average cost of $17.50 per share, with a total value of $34,737.50. Following the purchase, the director now directly owns 33,382 shares in the company, valued at approximately $584,185. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bryan Sheffield sold 100,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the transaction, the insider now directly owns 8,801,632 shares in the company, valued at $178,145,031.68. The disclosure for this sale can be found here. Corporate insiders own 12.14% of the company’s stock.

Several large investors have recently bought and sold shares of PE. Cullen Frost Bankers Inc. acquired a new position in shares of Parsley Energy during the 1st quarter worth $37,000. Quantamental Technologies LLC purchased a new stake in shares of Parsley Energy in the 2nd quarter worth about $53,000. Quadrant Capital Group LLC boosted its position in shares of Parsley Energy by 462.5% in the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock worth $71,000 after buying an additional 3,136 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Parsley Energy in the 2nd quarter worth about $76,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Parsley Energy in the 2nd quarter worth about $86,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Parsley Energy stock traded up $0.04 during trading on Thursday, reaching $16.45. The company’s stock had a trading volume of 3,892,200 shares, compared to its average volume of 5,280,199. The stock has a 50-day moving average price of $17.08. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.34 and a beta of 0.50. Parsley Energy has a fifty-two week low of $13.72 and a fifty-two week high of $31.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $467.53 million. Parsley Energy had a net margin of 13.69% and a return on equity of 5.75%. The company’s quarterly revenue was down 57.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. As a group, sell-side analysts anticipate that Parsley Energy will post 1.36 EPS for the current year.

About Parsley Energy

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.

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Analyst Recommendations for Parsley Energy (NYSE:PE)

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