Barclays PLC Trims Parsley Energy, Inc. (NYSE:PE) Target Price to $30.00
Parsley Energy, Inc. (NYSE:PE) had its target price cut by Barclays PLC from $32.00 to $30.00 in a research note issued to investors on Tuesday morning. They currently have an overweight rating on the oil and natural gas company’s stock.
PE has been the topic of several other reports. Citigroup Inc. set a $50.00 target price on Parsley Energy and gave the company a buy rating in a research note on Friday, July 21st. FBR & Co set a $42.00 price target on Parsley Energy and gave the stock a buy rating in a research note on Thursday, June 1st. Northland Securities set a $43.00 price target on Parsley Energy and gave the stock a buy rating in a research note on Monday, July 17th. Wolfe Research started coverage on Parsley Energy in a research note on Thursday, June 15th. They issued an outperform rating and a $40.00 price target on the stock. Finally, Williams Capital raised Parsley Energy from a hold rating to a buy rating and reduced their price target for the stock from $39.00 to $37.00 in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $40.69.
Shares of Parsley Energy (NYSE:PE) traded down 0.51% on Tuesday, reaching $25.35. The company’s stock had a trading volume of 2,807,585 shares. The stock has a market cap of $6.28 billion, a P/E ratio of 141.62 and a beta of -0.09. Parsley Energy has a 12 month low of $24.68 and a 12 month high of $39.82. The firm’s 50-day moving average price is $27.59 and its 200-day moving average price is $30.15.
Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.06. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business had revenue of $213.68 million for the quarter, compared to analysts’ expectations of $216.54 million. During the same period last year, the firm posted $0.04 earnings per share. Parsley Energy’s quarterly revenue was up 99.9% on a year-over-year basis. On average, analysts forecast that Parsley Energy will post $0.53 earnings per share for the current fiscal year.
In other Parsley Energy news, insider Colin Roberts sold 3,400 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.00, for a total value of $102,000.00. Following the completion of the sale, the insider now owns 229,326 shares in the company, valued at $6,879,780. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director A R. Alameddine purchased 3,500 shares of Parsley Energy stock in a transaction on Wednesday, May 17th. The stock was bought at an average price of $31.65 per share, with a total value of $110,775.00. Following the transaction, the director now owns 94,888 shares of the company’s stock, valued at $3,003,205.20. The disclosure for this purchase can be found here. 15.51% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PE. Advisor Group Inc. boosted its stake 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 worth $113,000 after buying an additional 781 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Parsley Energy during the first quarter worth approximately $133,000. Creative Planning boosted its stake 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 worth $147,000 after buying an additional 4,425 shares during the last quarter. Fortaleza Asset Management Inc. boosted its stake 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 worth $148,000 after buying an additional 1,520 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake 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 worth $153,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.14% 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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