Shares of Parsley Energy Inc (NYSE:PE) have earned a consensus recommendation of “Buy” from the twenty-four brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $22.78.
In other Parsley Energy news, VP Mike Hinson sold 20,000 shares of the company’s stock in a transaction dated Friday, November 20th. The shares were sold at an average price of $19.17, for a total value of $383,400.00. Following the completion of the sale, the vice president now directly owns 1,537,610 shares of the company’s stock, valued at approximately $29,475,983.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan Dalton sold 56,967 shares of the company’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $17.60, for a total transaction of $1,002,619.20. Following the completion of the sale, the insider now directly owns 1,076,327 shares of the company’s stock, valued at $18,943,355.20. The disclosure for this sale can be found here.
Parsley Energy (NYSE:PE) traded down 0.65% during mid-day trading on Monday, reaching $18.33. The company had a trading volume of 874,697 shares. The stock has a market cap of $2.27 billion and a PE ratio of 238.05. Parsley Energy has a 12 month low of $13.29 and a 12 month high of $20.33. The firm’s 50-day moving average price is $18.58 and its 200-day moving average price is $16.90.
Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, November 4th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.04. The business had revenue of $64.20 million for the quarter, compared to the consensus estimate of $76.18 million. During the same period last year, the firm earned $0.13 EPS. The business’s revenue was down 23.2% on a year-over-year basis. Equities research analysts forecast that Parsley Energy will post ($0.21) EPS for the current fiscal year.
PE has been the subject of a number of recent analyst reports. KLR Group lowered their price objective on shares of Parsley Energy from $25.00 to $23.00 in a research report on Thursday, October 15th. Goldman Sachs increased their target price on Parsley Energy from $14.00 to $16.00 in a report on Wednesday, November 11th. Capital One Financial Corp. increased their target price on Parsley Energy from $25.00 to $26.00 in a report on Wednesday, November 18th. Canaccord Genuity reiterated a “buy” rating and set a $23.00 target price on shares of Parsley Energy in a report on Monday, November 9th. Finally, Evercore ISI began coverage on Parsley Energy in a report on Friday, October 2nd. They set a “buy” rating and a $20.00 target price for the company.
Parsley Energy, Inc. is an independent oil and natural gas company. The Company is focused 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 comprises three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company’s properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Company’s vertical wells in the area are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (NYSE:PE), Strawn, Atoka and Mississippian formations. The Company’s principal asset is a controlling equity interest in Parsley LLC, and is its managing member. As of December 31, 2014, the Company had interests in 724 gross (416.4 net) producing wells.