Parsley Energy, Inc. (NYSE:PE) Given Average Recommendation of “Buy” by Analysts


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Parsley Energy, Inc. (NYSE:PE) has earned a consensus recommendation of “Buy” from the twenty-seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.39.

Several research firms recently issued reports on PE. Siebert Williams Shank restated a “buy” rating on shares of Parsley Energy in a research report on Tuesday, October 27th. ValuEngine upgraded Parsley Energy from a “sell” rating to a “hold” rating in a report on Monday, December 21st. US Capital Advisors cut Parsley Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 21st. Johnson Rice cut Parsley Energy from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a report on Friday, October 30th. Finally, MKM Partners cut Parsley Energy from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Thursday, October 22nd.

Shares of Parsley Energy stock opened at $16.93 on Thursday. 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 $6.99 billion, a PE ratio of -1.72, a price-to-earnings-growth ratio of 0.45 and a beta of 2.24. The business’s 50-day moving average price is $14.37 and its 200-day moving average price is $11.57. Parsley Energy has a 12 month low of $3.92 and a 12 month high of $18.29.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, October 28th. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. Parsley Energy had a positive return on equity of 5.13% and a negative net margin of 200.23%. The business had revenue of $447.39 million for the quarter, compared to analyst estimates of $440.61 million. As a group, analysts predict that Parsley Energy will post 0.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 18th. Shareholders of record on Tuesday, December 8th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, December 7th. Parsley Energy’s payout ratio is 17.86%.

Institutional investors and hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co grew its holdings in shares of Parsley Energy by 53.5% in the third quarter. CENTRAL TRUST Co now owns 4,891 shares of the oil and natural gas company’s stock worth $46,000 after acquiring an additional 1,704 shares during the period. Marshall Wace LLP bought a new stake in shares of Parsley Energy in the first quarter worth $134,000. Captrust Financial Advisors purchased a new position in Parsley Energy during the second quarter valued at $76,000. Neo Ivy Capital Management lifted its position in Parsley Energy by 316.1% during the third quarter. Neo Ivy Capital Management now owns 9,338 shares of the oil and natural gas company’s stock valued at $87,000 after purchasing an additional 7,094 shares in the last quarter. Finally, Blair William & Co. IL purchased a new position in Parsley Energy during the third quarter valued at $95,000. 72.58% of the stock is owned by institutional investors.

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, 2019, its acreage position consisted of 191,179 net acres, including 149,615 net acres in the Midland Basin and 41,564 net acres in the Delaware Basin; and operated 558.9 net acres of the horizontal wells and 723.1 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 592.3 MMBoe.

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Analyst Recommendations for Parsley Energy (NYSE:PE)

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