Morgan Stanley upgraded shares of Parsley Energy (NYSE:PE) from an equal weight rating to an overweight rating in a report released on Tuesday morning, BenzingaRatingsTable reports.

A number of other brokerages have also issued reports on PE. Credit Suisse Group reiterated an outperform rating and set a $13.00 target price on shares of Parsley Energy in a research report on Thursday, March 19th. Siebert Williams Shank upgraded Parsley Energy from a hold rating to a buy rating in a research report on Monday, March 9th. TheStreet lowered Parsley Energy from a c- rating to a d rating in a research report on Monday, May 4th. SunTrust Banks decreased their target price on Parsley Energy from $11.00 to $9.00 and set a hold rating on the stock in a research report on Monday, April 13th. Finally, Wells Fargo & Co decreased their target price on Parsley Energy from $14.00 to $13.00 and set an overweight rating on the stock in a research report on Friday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and nineteen have given a buy rating to the company. Parsley Energy currently has a consensus rating of Buy and a consensus target price of $15.82.

Parsley Energy stock opened at $9.31 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.68. Parsley Energy has a 12 month low of $3.92 and a 12 month high of $20.80. The stock’s 50 day simple moving average is $8.09 and its two-hundred day simple moving average is $13.28. The firm has a market cap of $3.84 billion, a PE ratio of 7.89, a P/E/G ratio of 1.59 and a beta of 2.15.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.05. Parsley Energy had a positive return on equity of 5.98% and a negative net margin of 151.11%. The business had revenue of $564.80 million for the quarter, compared to analyst estimates of $597.35 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts forecast that Parsley Energy will post 0.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Tuesday, June 9th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Monday, June 8th. Parsley Energy’s dividend payout ratio (DPR) is presently 17.86%.

In related news, Director A R. Alameddine bought 10,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $13.24 per share, with a total value of $132,400.00. 19.42% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Fieldpoint Private Securities LLC acquired a new stake in shares of Parsley Energy during the 4th quarter worth about $47,000. Sunbelt Securities Inc. acquired a new stake in shares of Parsley Energy during the 4th quarter worth about $12,969,000. Capital Wealth Alliance LLC acquired a new stake in shares of Parsley Energy during the 4th quarter worth about $46,000. Quadrant Capital Group LLC increased its position in shares of Parsley Energy by 28.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,800 shares of the oil and natural gas company’s stock worth $48,000 after purchasing an additional 625 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Parsley Energy by 122.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,458 shares of the oil and natural gas company’s stock worth $26,000 after purchasing an additional 2,458 shares during the last quarter. 62.70% of the stock is owned by hedge funds and other institutional investors.

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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