Parsley Energy (NYSE:PE) had its target price reduced by Robert W. Baird from $22.00 to $19.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the oil and natural gas company’s stock.
A number of other equities research analysts also recently weighed in on the stock. Wells Fargo & Co lifted their price target on shares of Parsley Energy from $28.00 to $33.00 and gave the stock an outperform rating in a research note on Monday, August 12th. Cowen set a $24.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research note on Wednesday, August 21st. Morgan Stanley decreased their price target on shares of Parsley Energy from $22.00 to $21.00 and set an equal weight rating on the stock in a research note on Friday, October 4th. MKM Partners initiated coverage on shares of Parsley Energy in a research note on Tuesday, August 27th. They set a buy rating and a $26.00 price target on the stock. Finally, Citigroup decreased their price target on shares of Parsley Energy from $27.00 to $25.00 and set a buy rating on the stock in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $28.58.
PE opened at $16.97 on Tuesday. Parsley Energy has a fifty-two week low of $13.72 and a fifty-two week high of $29.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50. The firm’s fifty day moving average price is $17.39 and its two-hundred day moving average price is $18.06. The company has a market capitalization of $5.11 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.32 and a beta of 0.47.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The firm had revenue of $198.50 million for the quarter, compared to the consensus estimate of $467.53 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business’s revenue was down 57.6% compared to the same quarter last year. On average, equities research analysts expect that Parsley Energy will post 1.41 EPS for the current fiscal year.
The company also recently announced a — dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, September 19th. Parsley Energy’s dividend payout ratio is presently 8.51%.
Several institutional investors have recently added to or reduced their stakes in PE. River & Mercantile Asset Management LLP bought a new position in shares of Parsley Energy in the second quarter valued at about $29,000. Quantamental Technologies LLC bought a new position in shares of Parsley Energy in the second quarter valued at about $53,000. Nisa Investment Advisors LLC bought a new position in shares of Parsley Energy in the second quarter valued at about $76,000. Machina Capital S.A.S. bought a new position in shares of Parsley Energy in the second quarter valued at about $86,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Parsley Energy by 22.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after buying an additional 958 shares during the last quarter. 82.62% 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.
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