Parsley Energy Inc. (PE) Rating Reiterated by Nomura
Parsley Energy Inc. (NYSE:PE)‘s stock had its “buy” rating reaffirmed by research analysts at Nomura in a research note issued to investors on Monday. They presently have a $17.00 price target on the stock. Nomura’s price objective would suggest a potential downside of 45.28% from the company’s current price.
Several other research analysts have also recently weighed in on the company. Morgan Stanley raised their target price on Parsley Energy to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, August 30th. Goldman Sachs Group Inc. raised their target price on Parsley Energy from $25.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. upped their target price on Parsley Energy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, August 15th. Finally, KeyCorp upped their target price on Parsley Energy from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Six research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Parsley Energy presently has an average rating of “Buy” and an average price target of $30.57.
Parsley Energy (NYSE:PE) opened at 31.07 on Monday. Parsley Energy has a 52 week low of $14.51 and a 52 week high of $35.00. The firm’s 50-day moving average is $33.36 and its 200 day moving average is $27.35. The stock’s market cap is $5.32 billion.
Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. The firm had revenue of $106.30 million for the quarter, compared to the consensus estimate of $92.04 million. During the same period in the prior year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. On average, equities research analysts expect that Parsley Energy will post $0.10 EPS for the current year.
In other Parsley Energy news, insider Mike Hinson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $33.65, for a total value of $841,250.00. Following the sale, the insider now owns 546,653 shares of the company’s stock, valued at approximately $18,394,873.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Henry Smith sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $32.99, for a total value of $206,187.50. Following the completion of the sale, the director now directly owns 30,861 shares in the company, valued at approximately $1,018,104.39. The disclosure for this sale can be found here. Insiders own 24.17% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. raised its stake in Parsley Energy by 93.8% in the second quarter. Thompson Davis & CO. Inc. now owns 3,875 shares of the company’s stock worth $105,000 after buying an additional 1,875 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in Parsley Energy during the second quarter worth about $131,000. BlackRock Inc. raised its stake in Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock worth $151,000 after buying an additional 3,814 shares during the period. Loeb Partners Corp acquired a new stake in Parsley Energy during the second quarter worth about $235,000. Finally, Comerica Bank acquired a new stake in Parsley Energy during the second quarter worth about $296,000. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Parsley Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy Inc. and related stocks with our FREE daily email newsletter.