Parsley Energy (NYSE:PE) Given a $23.00 Price Target by SunTrust Banks Analysts

SunTrust Banks set a $23.00 price target on Parsley Energy (NYSE:PE) in a research report sent to investors on Tuesday, TipRanks reports. The firm currently has a buy rating on the oil and natural gas company’s stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Co upped their target price on Parsley Energy from $28.00 to $33.00 and gave the company an outperform rating in a report on Monday, August 12th. TD Securities lifted their price target on shares of Parsley Energy from $25.00 to $26.00 and gave the company a buy rating in a report on Wednesday, August 7th. Bank of America lifted their price target on shares of Parsley Energy from $23.00 to $27.00 and gave the company a buy rating in a report on Tuesday. Cowen set a $24.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research report on Wednesday, August 21st. Finally, Morgan Stanley set a $21.00 target price on shares of Parsley Energy and gave the company a hold rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $28.60.

NYSE:PE traded up $0.18 during mid-day trading on Tuesday, reaching $18.57. 5,266,100 shares of the company’s stock traded hands, compared to its average volume of 5,136,575. The company has a 50 day moving average price of $16.51 and a 200-day moving average price of $18.19. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50. Parsley Energy has a 12-month low of $13.72 and a 12-month high of $31.05.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. The business’s revenue was down 57.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. As a group, analysts forecast that Parsley Energy will post 1.38 EPS for the current year.

The firm also recently disclosed a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a $0.03 dividend. The ex-dividend date is Thursday, September 19th.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. River & Mercantile Asset Management LLP purchased a new position in Parsley Energy during the second quarter valued at $29,000. Quantamental Technologies LLC bought a new position in shares of Parsley Energy in the second quarter worth approximately $53,000. Nisa Investment Advisors LLC purchased a new stake in shares of Parsley Energy during the second quarter valued at approximately $76,000. Machina Capital S.A.S. bought a new stake in shares of Parsley Energy during the second quarter valued at approximately $86,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Parsley Energy by 22.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock worth $98,000 after acquiring an additional 958 shares during the last quarter. 82.72% of the stock is owned by institutional investors and hedge funds.

Parsley Energy Company Profile

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, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.

Read More: Initial Coin Offering (ICO)

Analyst Recommendations for Parsley Energy (NYSE:PE)

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