Parsley Energy Inc (NYSE:PE) Announces $0.03 Quarterly Dividend

Parsley Energy Inc (NYSE:PE) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Investors of record on Tuesday, December 10th will be given a dividend of 0.03 per share by the oil and natural gas company on Friday, December 20th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, December 9th.

Shares of PE stock opened at $16.27 on Friday. The stock’s fifty day simple moving average is $16.03 and its 200-day simple moving average is $17.02. 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 company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.35 and a beta of 0.55. Parsley Energy has a 1-year low of $13.72 and a 1-year high of $22.11.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). The firm had revenue of $510.15 million for the quarter, compared to analysts’ expectations of $503.05 million. Parsley Energy had a return on equity of 4.96% and a net margin of 14.03%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. On average, sell-side analysts predict that Parsley Energy will post 1.21 EPS for the current year.

In other Parsley Energy news, Director Ron Brokmeyer purchased 5,000 shares of Parsley Energy stock in a transaction that occurred on Friday, November 29th. The stock was acquired at an average price of $14.95 per share, with a total value of $74,750.00. Following the transaction, the director now owns 13,897 shares in the company, valued at approximately $207,760.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.14% of the company’s stock.

PE has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Parsley Energy from $27.00 to $25.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Robert W. Baird cut their target price on shares of Parsley Energy from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Northland Securities reissued a “buy” rating and set a $23.00 price target on shares of Parsley Energy in a research report on Wednesday, November 6th. Cowen set a $24.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, SunTrust Banks set a $23.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. Parsley Energy has a consensus rating of “Buy” and a consensus price target of $27.07.

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.

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