Parsley Energy, Inc. (PE) Rating Reiterated by Northland Securities
Parsley Energy, Inc. (NYSE:PE)‘s stock had its “buy” rating reiterated by equities research analysts at Northland Securities in a note issued to investors on Friday. They currently have a $40.00 price objective on the oil and natural gas company’s stock. Northland Securities’ price target suggests a potential upside of 47.17% from the company’s current price.
Several other research analysts have also commented on PE. Zacks Investment Research lowered Parsley Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. Stifel Nicolaus restated a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a research report on Friday, July 14th. Seaport Global Securities downgraded Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research report on Monday, July 17th. Bank of America Corporation assumed coverage on Parsley Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Citigroup Inc. set a $50.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $40.36.
Shares of Parsley Energy (NYSE PE) traded down $0.01 during midday trading on Friday, hitting $27.18. The stock had a trading volume of 4,536,800 shares, compared to its average volume of 5,695,913. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82. The company has a quick ratio of 1.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $8,545.34, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 3.16 and a beta of -0.05.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Parsley Energy’s revenue was up 81.8% on a year-over-year basis. analysts anticipate that Parsley Energy will post 0.47 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in PE. Spot Trading L.L.C. purchased a new stake in shares of Parsley Energy in the first quarter worth $565,000. American International Group Inc. grew its stake in shares of Parsley Energy by 3.8% in the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares during the last quarter. Morgan Stanley grew its stake in shares of Parsley Energy by 26.2% in the first quarter. Morgan Stanley now owns 464,465 shares of the oil and natural gas company’s stock worth $15,100,000 after acquiring an additional 96,407 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Parsley Energy by 14.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after acquiring an additional 735 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Parsley Energy by 47.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 24,600 shares of the oil and natural gas company’s stock worth $800,000 after acquiring an additional 7,900 shares during the last quarter. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
About Parsley Energy
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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