Shares of Parsley Energy Inc (NYSE:PE) have been assigned an average recommendation of “Buy” from the thirty brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.03.

A number of analysts recently issued reports on PE shares. Wells Fargo & Co increased their price target on shares of Parsley Energy from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday. KeyCorp increased their price target on shares of Parsley Energy from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Evercore ISI raised shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 price target on the stock in a report on Monday, May 6th. ValuEngine downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 12th. Finally, Robert W. Baird set a $22.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a report on Thursday, June 27th.

In other Parsley Energy news, Director Jerry Windlinger purchased 1,985 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were purchased at an average cost of $17.50 per share, with a total value of $34,737.50. Following the completion of the purchase, the director now owns 33,382 shares in the company, valued at approximately $584,185. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bryan Sheffield sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was 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 directly owns 8,801,632 shares in the company, valued at $178,145,031.68. The disclosure for this sale can be found here. Company insiders own 12.14% of the company’s stock.

Large investors have recently bought and sold shares of the company. FMR LLC increased its position in Parsley Energy by 7.2% during the first quarter. FMR LLC now owns 8,483,510 shares of the oil and natural gas company’s stock worth $163,731,000 after purchasing an additional 571,136 shares during the last quarter. Victory Capital Management Inc. increased its position in Parsley Energy by 2.1% during the first quarter. Victory Capital Management Inc. now owns 6,810,353 shares of the oil and natural gas company’s stock worth $131,440,000 after purchasing an additional 138,131 shares during the last quarter. Van ECK Associates Corp increased its position in Parsley Energy by 4.0% during the second quarter. Van ECK Associates Corp now owns 5,219,727 shares of the oil and natural gas company’s stock worth $99,227,000 after purchasing an additional 201,760 shares during the last quarter. Geode Capital Management LLC increased its position in Parsley Energy by 19.3% during the fourth quarter. Geode Capital Management LLC now owns 2,736,590 shares of the oil and natural gas company’s stock worth $43,703,000 after purchasing an additional 443,379 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in Parsley Energy by 10.1% during the first quarter. Eagle Asset Management Inc. now owns 2,545,123 shares of the oil and natural gas company’s stock worth $49,120,000 after purchasing an additional 232,581 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PE traded up $0.04 during midday trading on Thursday, reaching $16.45. The company’s stock had a trading volume of 3,892,200 shares, compared to its average volume of 5,280,199. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.34 and a beta of 0.50. Parsley Energy has a twelve month low of $13.72 and a twelve month high of $31.05. The firm has a fifty day moving average price of $17.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.75%. The firm had revenue of $198.50 million for the quarter, compared to the consensus estimate of $467.53 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was down 57.6% compared to the same quarter last year. Equities analysts predict that Parsley Energy will post 1.36 EPS for the current year.

Parsley Energy Company Profile

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.

Read More: What are CEFs?

Analyst Recommendations for Parsley Energy (NYSE:PE)

Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.