Parsley Energy Inc (NYSE:PE) shares traded up 1.3% during trading on Monday . The company traded as high as $20.65 and last traded at $20.56. 319,887 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 4,498,075 shares. The stock had previously closed at $20.29.
A number of research analysts recently commented on the stock. Stephens upgraded shares of Parsley Energy from an “equal” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 29th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Monday, April 8th. Northland Securities reissued a “buy” rating and issued a $29.00 price objective on shares of Parsley Energy in a report on Friday, February 22nd. Robert W. Baird set a $24.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a report on Friday, February 22nd. Finally, TD Securities cut their price objective on shares of Parsley Energy from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, December 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.68.
The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 0.38 and a beta of 0.40.
In related news, insider Mike Hinson sold 41,727 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.43, for a total transaction of $769,028.61. Following the completion of the transaction, the insider now directly owns 398,275 shares in the company, valued at approximately $7,340,208.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Colin Roberts sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $18.73, for a total transaction of $65,555.00. Following the transaction, the insider now owns 274,926 shares of the company’s stock, valued at $5,149,363.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,227 shares of company stock valued at $894,584. 13.17% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in PE. Tributary Capital Management LLC acquired a new position in Parsley Energy in the 4th quarter valued at approximately $37,000. Advisor Group Inc. increased its position in Parsley Energy by 15.0% in the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock valued at $88,000 after acquiring an additional 719 shares during the period. Penserra Capital Management LLC increased its position in Parsley Energy by 153.8% in the 4th quarter. Penserra Capital Management LLC now owns 7,488 shares of the oil and natural gas company’s stock valued at $118,000 after acquiring an additional 4,538 shares during the period. Daiwa Securities Group Inc. increased its position in Parsley Energy by 7.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,250 shares of the oil and natural gas company’s stock valued at $132,000 after acquiring an additional 600 shares during the period. Finally, Wealthstreet Investment Advisors LLC acquired a new position in Parsley Energy in the 4th quarter valued at approximately $189,000. Institutional investors and hedge funds own 85.20% 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, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
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