Parsley Energy (NYSE:PE) received a $38.00 price target from equities researchers at Williams Capital in a report released on Friday. The firm presently has a “hold” rating on the oil and natural gas company’s stock. Williams Capital’s price target would suggest a potential upside of 53.66% from the company’s current price.
Several other equities research analysts have also recently issued reports on PE. TD Securities started coverage on Parsley Energy in a research note on Thursday, July 5th. They set a “buy” rating and a $37.00 target price for the company. Zacks Investment Research lowered Parsley Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Susquehanna Bancshares began coverage on Parsley Energy in a research report on Wednesday, July 11th. They set a “positive” rating and a $38.00 price target for the company. Piper Jaffray Companies restated a “buy” rating and set a $49.00 price target on shares of Parsley Energy in a research report on Friday, July 20th. Finally, Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $38.69.
PE stock traded up $0.48 during midday trading on Friday, hitting $24.73. 9,042,502 shares of the company’s stock were exchanged, compared to its average volume of 4,505,585. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.36. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 0.51 and a beta of -0.13. Parsley Energy has a 1-year low of $21.12 and a 1-year high of $33.43.
In other Parsley Energy news, Director Hemang Desai purchased 1,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were bought at an average cost of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the purchase, the director now directly owns 31,886 shares in the company, valued at $871,125.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mike Hinson sold 250,000 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $30.24, for a total value of $7,560,000.00. Following the completion of the sale, the insider now owns 663,978 shares in the company, valued at $20,078,694.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,763,328 shares of company stock valued at $78,318,180. 13.17% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of PE. Envestnet Asset Management Inc. increased its position in shares of Parsley Energy by 487.2% during the second quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock worth $124,000 after purchasing an additional 3,376 shares in the last quarter. MHI Funds LLC acquired a new stake in shares of Parsley Energy during the second quarter worth about $163,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Parsley Energy during the second quarter worth about $212,000. Fox Run Management L.L.C. acquired a new stake in shares of Parsley Energy during the second quarter worth about $224,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Parsley Energy during the first quarter worth about $258,000. Institutional investors own 84.13% of the company’s stock.
Parsley Energy Company Profile
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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