Parsley Energy (NYSE:PE) was downgraded by research analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday. Seaport Global Securities also issued estimates for Parsley Energy’s Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.42 EPS, Q4 2018 earnings at $0.46 EPS, FY2018 earnings at $1.54 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $1.96 EPS.
PE has been the subject of several other research reports. Bank of America lifted their price objective on shares of Parsley Energy from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, March 8th. Credit Suisse Group set a $38.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital lowered shares of Parsley Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $38.00 to $34.00 in a research note on Tuesday, January 30th. Piper Jaffray reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Parsley Energy in a research note on Friday, February 2nd. Finally, ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $37.21.
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Shares of NYSE:PE opened at $31.92 on Friday. The firm has a market cap of $9,278.60, a price-to-earnings ratio of 46.26, a P/E/G ratio of 1.30 and a beta of -0.50. Parsley Energy has a 12-month low of $21.12 and a 12-month high of $32.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.50 and a quick ratio of 1.50.
Parsley Energy (NYSE:PE) last issued its earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $392.70 million during the quarter, compared to analyst estimates of $348.64 million. Parsley Energy had a net margin of 13.82% and a return on equity of 3.73%. The company’s revenue for the quarter was up 95.5% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. equities analysts forecast that Parsley Energy will post 1.16 EPS for the current fiscal year.
In other news, insider Colin Roberts sold 7,500 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $28.29, for a total transaction of $212,175.00. Following the transaction, the insider now owns 254,204 shares in the company, valued at approximately $7,191,431.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Sheffield acquired 189,500 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $26.34 per share, for a total transaction of $4,991,430.00. Following the acquisition, the insider now owns 11,533,063 shares in the company, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. Insiders own 13.17% of the company’s stock.
Large investors have recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Parsley Energy by 417.5% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after purchasing an additional 2,864 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Parsley Energy during the 4th quarter valued at about $128,000. American International Group Inc. acquired a new stake in shares of Parsley Energy during the 4th quarter valued at about $155,000. M&T Bank Corp acquired a new stake in shares of Parsley Energy during the 4th quarter valued at about $249,000. Finally, S&CO Inc. acquired a new stake in shares of Parsley Energy during the 1st quarter valued at about $255,000. Institutional investors own 82.12% of the company’s stock.
About Parsley Energy
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.