Parsley Energy (NYSE:PE) Shares Down 5.2%

Parsley Energy Inc (NYSE:PE) shares traded down 5.2% on Wednesday . The stock traded as low as $15.42 and last traded at $15.59, approximately 4,617,221 shares traded hands during trading. A decline of 12% from the average session volume of 5,276,410 shares. The stock had previously closed at $16.45.

Several analysts have recently commented on the stock. Evercore ISI upgraded shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 target price for the company in a report on Monday, May 6th. Zacks Investment Research downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Morgan Stanley set a $21.00 target price on shares of Parsley Energy and gave the company a “hold” rating in a report on Monday, June 24th. Robert W. Baird set a $22.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, ValuEngine downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $29.75.

The company has a market cap of $5.14 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.34 and a beta of 0.50. The business’s 50-day moving average price is $17.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43.

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, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $198.50 million during the quarter, compared to analyst estimates of $467.53 million. Parsley Energy had a net margin of 13.69% and a return on equity of 5.75%. The firm’s revenue for the quarter was down 57.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, sell-side analysts forecast that Parsley Energy Inc will post 1.36 EPS for the current fiscal year.

In other Parsley Energy news, insider Bryan Sheffield sold 100,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the completion of the transaction, the insider now owns 8,801,632 shares in the company, valued at $178,145,031.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry Windlinger bought 1,985 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $17.50 per share, with a total value of $34,737.50. Following the transaction, the director now directly owns 33,382 shares of the company’s stock, valued at $584,185. The disclosure for this purchase can be found here. 12.14% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new stake in shares of Parsley Energy in the first quarter worth about $37,000. Quantamental Technologies LLC purchased a new stake in shares of Parsley Energy in the second quarter worth about $53,000. Quadrant Capital Group LLC lifted its holdings in shares of Parsley Energy by 462.5% in the first quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock worth $71,000 after buying an additional 3,136 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Parsley Energy in the second quarter worth about $76,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Parsley Energy in the second quarter worth about $86,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.

Parsley Energy Company Profile (NYSE:PE)

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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