Parsley Energy (NYSE:PE) Trading 6% Higher

Shares of Parsley Energy Inc (NYSE:PE) traded up 6% on Thursday . The stock traded as high as $17.27 and last traded at $17.24, 9,365,049 shares traded hands during mid-day trading. An increase of 72% from the average session volume of 5,449,029 shares. The stock had previously closed at $16.26.

Several research analysts have weighed in on the company. Robert W. Baird cut their price objective on Parsley Energy from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Northland Securities reissued a “buy” rating and issued a $23.00 price objective on shares of Parsley Energy in a research report on Wednesday, November 6th. Wells Fargo & Co boosted their price objective on Parsley Energy from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Citigroup cut their price objective on Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Finally, Bank of America boosted their price objective on Parsley Energy from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have issued a buy rating to the stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $27.03.

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $16.10 and a 200 day moving average price of $16.92. The stock has a market cap of $5.15 billion, a PE ratio of 12.23, a PEG ratio of 0.38 and a beta of 0.55.

Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.05). Parsley Energy had a net margin of 14.03% and a return on equity of 4.96%. The firm had revenue of $510.15 million for the quarter, compared to analysts’ expectations of $503.05 million. During the same period in the prior year, the company earned $0.41 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts predict that Parsley Energy Inc will post 1.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.03 per share. The ex-dividend date is Monday, December 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.70%. Parsley Energy’s payout ratio is 8.51%.

In related news, insider Colin Roberts sold 10,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $16.36, for a total transaction of $163,600.00. Following the sale, the insider now directly owns 261,626 shares in the company, valued at approximately $4,280,201.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ron Brokmeyer acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of $14.95 per share, for a total transaction of $74,750.00. Following the completion of the purchase, the director now owns 13,897 shares in the company, valued at approximately $207,760.15. The disclosure for this purchase can be found here. Insiders own 12.14% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. River & Mercantile Asset Management LLP bought a new position in Parsley Energy in the 2nd quarter worth about $29,000. Quadrant Capital Group LLC increased its stake in Parsley Energy by 214.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 1,484 shares during the last quarter. First Quadrant L P CA bought a new position in Parsley Energy in the 3rd quarter worth about $42,000. Quantamental Technologies LLC bought a new position in Parsley Energy in the 2nd quarter worth about $53,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Parsley Energy by 22.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock worth $98,000 after acquiring an additional 958 shares during the last quarter. Institutional investors own 79.14% of the company’s stock.

About Parsley Energy (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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