Parsley Energy Inc (NYSE:PE) Receives Average Recommendation of “Buy” from Brokerages
Parsley Energy Inc (NYSE:PE) has received an average rating of “Buy” from the twenty-five research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.14.
A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price target on Parsley Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. UBS Group increased their target price on shares of Parsley Energy from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Stifel Nicolaus decreased their price target on shares of Parsley Energy from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Barclays increased their price objective on shares of Parsley Energy from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Finally, Cowen upped their price target on shares of Parsley Energy from $15.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, August 17th.
In other news, insider Colin Roberts sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $11.14, for a total value of $334,200.00. Following the sale, the insider now owns 279,487 shares of the company’s stock, valued at $3,113,485.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Sheffield sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $12.12, for a total transaction of $3,636,000.00. Following the completion of the transaction, the insider now directly owns 9,310,686 shares of the company’s stock, valued at $112,845,514.32. The disclosure for this sale can be found here. Insiders sold 630,000 shares of company stock worth $7,408,200 in the last 90 days. Corporate insiders own 19.42% of the company’s stock.
PE stock traded up $0.59 during trading hours on Friday, hitting $10.16. 583,336 shares of the stock were exchanged, compared to its average volume of 9,633,600. Parsley Energy has a 12 month low of $3.92 and a 12 month high of $20.80. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.95 billion, a P/E ratio of -1.03, a P/E/G ratio of 0.41 and a beta of 2.25. The company has a 50-day simple moving average of $10.98 and a two-hundred day simple moving average of $9.68.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, August 5th. The oil and natural gas company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.17. The business had revenue of $220.21 million for the quarter, compared to analyst estimates of $327.18 million. Parsley Energy had a negative net margin of 200.23% and a positive return on equity of 5.13%. On average, equities research analysts predict that Parsley Energy will post 0.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, September 4th. Parsley Energy’s dividend payout ratio is currently 17.86%.
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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