Parsley Energy Inc (NYSE:PE) – Research analysts at Jefferies Financial Group raised their Q3 2019 EPS estimates for Parsley Energy in a note issued to investors on Monday, March 4th. Jefferies Financial Group analyst M. Lear now forecasts that the oil and natural gas company will post earnings of $0.38 per share for the quarter, up from their prior forecast of $0.35. Jefferies Financial Group currently has a “Buy” rating and a $26.00 target price on the stock. Jefferies Financial Group also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.38 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.48 EPS and FY2020 earnings at $1.74 EPS.
Several other research firms have also recently commented on PE. Zacks Investment Research cut shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Morgan Stanley reduced their price objective on shares of Parsley Energy from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, November 20th. SunTrust Banks set a $35.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, November 27th. Goldman Sachs Group upgraded shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 27th. Finally, Cowen assumed coverage on shares of Parsley Energy in a research report on Thursday, November 29th. They set an “outperform” rating and a $27.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.71.
Parsley Energy stock opened at $18.22 on Thursday. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.54 and a beta of 0.41. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 0.70. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.43.
Parsley Energy (NYSE:PE) last released its earnings results on Thursday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.04). The company had revenue of $454.90 million for the quarter, compared to analyst estimates of $456.66 million. Parsley Energy had a net margin of 20.21% and a return on equity of 6.49%. The firm’s quarterly revenue was up 46.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS.
In other news, insider Colin Roberts sold 3,500 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total value of $65,555.00. Following the completion of the sale, the insider now directly owns 274,926 shares of the company’s stock, valued at $5,149,363.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike Hinson sold 41,727 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $18.43, for a total transaction of $769,028.61. Following the completion of the sale, the insider now directly owns 398,275 shares of the company’s stock, valued at $7,340,208.25. The disclosure for this sale can be found here. Company insiders own 13.17% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of PE. Tributary Capital Management LLC purchased a new stake in shares of Parsley Energy in the fourth quarter worth approximately $37,000. Advisor Group Inc. raised its position in Parsley Energy by 15.0% during the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock valued at $88,000 after acquiring an additional 719 shares in the last quarter. Penserra Capital Management LLC raised its position in Parsley Energy by 153.8% during the fourth quarter. Penserra Capital Management LLC now owns 7,488 shares of the oil and natural gas company’s stock valued at $118,000 after acquiring an additional 4,538 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Parsley Energy by 7.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,250 shares of the oil and natural gas company’s stock valued at $132,000 after acquiring an additional 600 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC bought a new position in Parsley Energy during the fourth quarter valued at approximately $189,000. 85.08% of the stock is owned by institutional investors and hedge funds.
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.
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