Parsley Energy (NYSE:PE) had its target price boosted by analysts at KeyCorp from $21.00 to $23.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has an “overweight” rating on the oil and natural gas company’s stock. KeyCorp’s price objective suggests a potential upside of 6.24% from the company’s current price. KeyCorp also issued estimates for Parsley Energy’s Q2 2019 earnings at $0.25 EPS and Q3 2019 earnings at $0.26 EPS.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Parsley Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wolfe Research upgraded Parsley Energy from a “peer perform” rating to an “outperform” rating in a report on Thursday, April 18th. ValuEngine upgraded Parsley Energy from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Goldman Sachs Group cut Parsley Energy to a “buy” rating in a report on Friday, April 12th. Finally, Barclays reiterated a “buy” rating and issued a $34.00 price objective on shares of Parsley Energy in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Parsley Energy has an average rating of “Buy” and a consensus price target of $31.56.

Shares of NYSE PE opened at $21.65 on Monday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 0.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.83. Parsley Energy has a twelve month low of $14.17 and a twelve month high of $33.43.

Parsley Energy (NYSE:PE) last announced its earnings results on Thursday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.04). The business had revenue of $454.90 million during the quarter, compared to the consensus estimate of $456.66 million. Parsley Energy had a return on equity of 6.43% and a net margin of 20.21%. Parsley Energy’s revenue was up 46.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. Research analysts forecast that Parsley Energy will post 1.47 EPS for the current fiscal year.

In other Parsley Energy news, insider Mike Hinson sold 41,727 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.43, for a total transaction of $769,028.61. Following the completion of the transaction, the insider now owns 398,275 shares of the company’s stock, valued at approximately $7,340,208.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Colin Roberts sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $20.00, for a total value of $60,000.00. Following the transaction, the insider now directly owns 271,926 shares of the company’s stock, valued at approximately $5,438,520. The disclosure for this sale can be found here. Insiders have sold a total of 48,227 shares of company stock valued at $894,584 in the last ninety days. 13.17% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in PE. Deutsche Bank AG raised its position in shares of Parsley Energy by 795.5% in the 4th quarter. Deutsche Bank AG now owns 2,846,929 shares of the oil and natural gas company’s stock worth $45,491,000 after acquiring an additional 2,529,006 shares in the last quarter. Norges Bank bought a new position in shares of Parsley Energy in the 4th quarter worth approximately $34,928,000. Zimmer Partners LP raised its position in shares of Parsley Energy by 320.0% in the 4th quarter. Zimmer Partners LP now owns 2,100,000 shares of the oil and natural gas company’s stock worth $33,558,000 after acquiring an additional 1,600,000 shares in the last quarter. Scout Investments Inc. bought a new position in shares of Parsley Energy in the 4th quarter worth approximately $18,466,000. Finally, Mackenzie Financial Corp bought a new position in shares of Parsley Energy in the 4th quarter worth approximately $17,535,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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Analyst Recommendations for Parsley Energy (NYSE:PE)

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