Imperial Capital assumed coverage on shares of Parsley Energy, Inc. (NYSE:PE) in a research note released on Tuesday, MarketBeat reports. The brokerage issued an outperform rating and a $36.00 target price on the oil and natural gas company’s stock. Imperial Capital also issued estimates for Parsley Energy’s Q3 2017 earnings at $0.15 EPS, Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.58 EPS and FY2018 earnings at $1.27 EPS.
Several other analysts have also recently issued reports on the company. Seaport Global Securities upgraded Parsley Energy from a neutral rating to a buy rating and increased their price objective for the company from $30.00 to $32.00 in a research note on Friday, August 11th. Barclays PLC reduced their price objective on Parsley Energy from $32.00 to $30.00 and set an overweight rating on the stock in a research note on Tuesday, August 8th. BidaskClub cut Parsley Energy from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Williams Capital set a $39.00 price objective on Parsley Energy and gave the company a buy rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Parsley Energy from a sell rating to a hold rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $40.65.
Parsley Energy (NYSE PE) opened at 24.79 on Tuesday. The firm’s 50-day moving average price is $27.25 and its 200 day moving average price is $29.74. The stock has a market capitalization of $6.14 billion, a P/E ratio of 138.49 and a beta of -0.09. Parsley Energy has a 12-month low of $24.25 and a 12-month high of $39.82.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. On average, equities analysts anticipate that Parsley Energy will post $0.51 EPS for the current year.
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In other Parsley Energy news, insider Colin Roberts sold 3,400 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.00, for a total transaction of $102,000.00. Following the transaction, the insider now owns 229,326 shares of the company’s stock, valued at $6,879,780. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.51% of the company’s stock.
Several institutional investors have recently modified their holdings of PE. BlueCrest Capital Management Ltd raised its position in shares of Parsley Energy by 1.5% in the first quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock valued at $325,000 after buying an additional 143 shares during the last quarter. American International Group Inc. raised its position 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 valued at $158,000 after buying an additional 180 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares during the last quarter. Atria Investments LLC raised its position in shares of Parsley Energy by 3.2% in the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after buying an additional 315 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Parsley Energy by 2.6% in the first quarter. US Bancorp DE now owns 18,180 shares of the oil and natural gas company’s stock valued at $591,000 after buying an additional 463 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors.
Parsley Energy Company Profile
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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