Northland Securities Analysts Give Parsley Energy, Inc. (PE) a $43.00 Price Target
Northland Securities set a $43.00 price target on Parsley Energy, Inc. (NYSE:PE) in a research report released on Monday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other equities research analysts have also recently issued reports on PE. BMO Capital Markets set a $40.00 price objective on shares of Parsley Energy and gave the company a buy rating in a research note on Thursday, May 4th. UBS AG reaffirmed a buy rating and issued a $44.00 price objective (up previously from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. FBR & Co reaffirmed a buy rating on shares of Parsley Energy in a research note on Friday, May 5th. Scotiabank set a $43.00 price objective on shares of Parsley Energy and gave the company a buy rating in a research note on Saturday, May 6th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $45.00 price objective on shares of Parsley Energy in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Parsley Energy presently has a consensus rating of Buy and an average price target of $40.65.
Shares of Parsley Energy (NYSE:PE) opened at 25.15 on Monday. Parsley Energy has a 12-month low of $24.25 and a 12-month high of $39.82. The firm’s 50-day moving average price is $27.00 and its 200-day moving average price is $29.48. The firm has a market capitalization of $6.23 billion, a P/E ratio of 140.50 and a beta of -0.09.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The company had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same period in the prior year, the firm earned $0.04 EPS. Parsley Energy’s quarterly revenue was up 99.9% on a year-over-year basis. Equities analysts predict that Parsley Energy will post $0.51 earnings per share for the current fiscal year.
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In related news, insider Colin Roberts sold 3,400 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.00, for a total value of $102,000.00. Following the completion of the transaction, the insider now directly owns 229,326 shares in the company, valued at approximately $6,879,780. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.51% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of PE. Advisor Group Inc. raised its position in shares of Parsley Energy by 23.9% in the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 781 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Parsley Energy during the first quarter valued at about $133,000. Creative Planning raised its position in shares of Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock valued at $147,000 after buying an additional 4,425 shares during the last quarter. Fortaleza Asset Management Inc. raised its position in shares of Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock valued at $148,000 after buying an additional 1,520 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.
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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