Parsley Energy Inc (NYSE:PE) – Imperial Capital lifted their Q2 2020 earnings estimates for shares of Parsley Energy in a research note issued on Wednesday, January 15th, Zacks Investment Research reports. Imperial Capital analyst I. Haas now anticipates that the oil and natural gas company will post earnings of $0.43 per share for the quarter, up from their prior forecast of $0.40. Imperial Capital currently has a “Outperform” rating and a $24.00 target price on the stock. Imperial Capital also issued estimates for Parsley Energy’s Q3 2020 earnings at $0.45 EPS and Q4 2020 earnings at $0.48 EPS.
Other equities research analysts have also recently issued research reports about the stock. KeyCorp increased their price target on shares of Parsley Energy from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Cowen reiterated a “buy” rating and set a $29.00 price target on shares of Parsley Energy in a report on Monday, December 16th. Royal Bank of Canada initiated coverage on shares of Parsley Energy in a research report on Monday, January 13th. They issued an “outperform” rating on the stock. UBS Group raised their price objective on shares of Parsley Energy from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, TD Securities decreased their price objective on shares of Parsley Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $25.46.
Shares of NYSE:PE traded down $0.37 during trading on Friday, reaching $17.02. 3,515,408 shares of the stock traded hands, compared to its average volume of 5,913,995. The stock has a 50-day moving average of $17.97 and a two-hundred day moving average of $16.92. Parsley Energy has a 52-week low of $13.72 and a 52-week high of $22.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $5.51 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.29 and a beta of 0.72.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 9th. This is an increase from Parsley Energy’s previous quarterly dividend of $0.03. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. Parsley Energy’s dividend payout ratio is 8.51%.
In other news, Director Ron Brokmeyer acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average price of $14.95 per share, with a total value of $74,750.00. Following the completion of the acquisition, the director now owns 13,897 shares of the company’s stock, valued at approximately $207,760.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Colin Roberts sold 10,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $16.36, for a total transaction of $163,600.00. Following the completion of the sale, the insider now directly owns 261,626 shares of the company’s stock, valued at approximately $4,280,201.36. The disclosure for this sale can be found here. Corporate insiders own 12.14% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hodges Capital Management Inc. grew its holdings in shares of Parsley Energy by 603.2% during the 4th quarter. Hodges Capital Management Inc. now owns 217,280 shares of the oil and natural gas company’s stock worth $4,109,000 after purchasing an additional 186,380 shares during the period. Majedie Asset Management Ltd grew its holdings in shares of Parsley Energy by 1.9% during the 4th quarter. Majedie Asset Management Ltd now owns 364,574 shares of the oil and natural gas company’s stock worth $6,902,000 after purchasing an additional 6,702 shares during the period. Jennison Associates LLC grew its holdings in shares of Parsley Energy by 51.7% during the 4th quarter. Jennison Associates LLC now owns 1,125,160 shares of the oil and natural gas company’s stock worth $21,277,000 after purchasing an additional 383,437 shares during the period. Comerica Bank grew its holdings in shares of Parsley Energy by 9.9% during the 4th quarter. Comerica Bank now owns 287,527 shares of the oil and natural gas company’s stock worth $4,845,000 after purchasing an additional 25,789 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Parsley Energy during the 4th quarter worth about $1,500,000. 78.70% of the stock is owned by institutional investors and hedge funds.
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.