Parsley Energy (NYSE:PE) had its target price increased by investment analysts at UBS Group from $13.00 to $22.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price target points to a potential upside of 107.74% from the company’s current price.
A number of other brokerages also recently commented on PE. Stifel Nicolaus boosted their price objective on Parsley Energy from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. KeyCorp boosted their price objective on Parsley Energy from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, June 11th. Barclays boosted their price objective on Parsley Energy from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Mizuho boosted their price objective on Parsley Energy from $13.00 to $16.00 in a research report on Friday, June 19th. Finally, Credit Suisse Group restated an “outperform” rating and set a $13.00 target price on shares of Parsley Energy in a research note on Thursday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and an average target price of $16.70.
NYSE PE opened at $10.59 on Monday. The company has a market cap of $4.37 billion, a P/E ratio of -1.25, a P/E/G ratio of 5.03 and a beta of 2.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50-day moving average of $10.32 and a two-hundred day moving average of $12.24. Parsley Energy has a 1-year low of $3.92 and a 1-year high of $20.80.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.05. Parsley Energy had a positive return on equity of 5.98% and a negative net margin of 151.11%. The business had revenue of $564.80 million during the quarter, compared to the consensus estimate of $597.35 million. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts anticipate that Parsley Energy will post 0.06 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in PE. Marshall Wace LLP acquired a new position in Parsley Energy during the first quarter worth $134,000. Amundi Pioneer Asset Management Inc. grew its holdings in Parsley Energy by 162.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 320,494 shares of the oil and natural gas company’s stock valued at $6,185,000 after purchasing an additional 198,445 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Parsley Energy by 6.2% in the fourth quarter. Principal Financial Group Inc. now owns 30,144 shares of the oil and natural gas company’s stock valued at $570,000 after purchasing an additional 1,750 shares during the last quarter. Aviva PLC grew its holdings in Parsley Energy by 24.0% in the fourth quarter. Aviva PLC now owns 70,108 shares of the oil and natural gas company’s stock valued at $1,326,000 after purchasing an additional 13,584 shares during the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new stake in Parsley Energy in the fourth quarter valued at $47,000. 68.39% of the stock is currently owned by hedge funds and other institutional investors.
About Parsley Energy
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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