Parsley Energy, Inc. (NYSE:PE) shares went down -1.39% in Monday’s session, putting the price tag at $18.46 plus $5.94B in market capitalization. Earlier in the session, the stock traded between $18.3 and $18.845. Trading activity significantly weakened as the volume at ready counter decreased to 6,961,486 shares versus 7,591,100 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 7,546,567 shares. The stock is now 30.28% above against its bear-market low of $14.17 on December 26, 2018. It has retreated -81.09% since it’s 52-week high of $33.43 reached in May. Now the market price is down -36.61% on the year and up 15.52% YTD.
PE’s 50 day simple moving average (SMA 50) price is $19.61 and its 200-day simple moving average (SMA 200) price is $26.91. The company’s stock currently has a total float of 267.59M shares. Its weekly volatility is hovering around 3.47% and felt 5.29% volatility in price over a month. On the upside, the share price will test short term resistance at around $18.77. On a downside, the stock is likely to find some support, which begins at $18.22. The failure to get near-term support could push it to $17.99.
Separately, it has been reported that multiple insider activity took place at Parsley Energy, Inc. (PE). Director Windlinger Jerry acquired 3,193 shares for $23,015 in transaction occurred on 2018/12/04. After making this transaction, the Director owns a direct stake of 63,668 shares, worth $424,857, as per the last closing price. On 2018/12/04 Brokmeyer Ron, Director at PE, purchased 1,000 shares at an average price of $19.99 per share. The new stake is valued at $428,992.
Director, Alameddine A R had invested in 1,000 shares for $123,643 through a trade on 2018/11/30. Following this activity, the insider holds 20,000 shares worth $2,282,450 as of recent close. Wall Street’s most bullish Parsley Energy, Inc. (NYSE:PE) analysts are predicting the share price to blow past $53 per share during the next 12 months. The current median share price forecast by them is $28, suggesting that the stock could increase 51.68% in that time frame. The average price target of $28.68 calls for a nearly 55.36% increase in the stock price.
It had seen a change in price target from analysts at Imperial Capital, who reiterated the stock at Outperform on January 04 but moved PT from $45 to $33. Analysts at Citigroup, shed their negative views on December 21 by lifting it fromNeutral to Buy. Analysts at KeyBanc Capital Mkts, made their first call about the stock on December 20, recommending it is Overweight. Evercore ISI analysts came out with bearish views on December 10 when the call was made. They think the stock is now In-line compared to to their prior call for Outperform.
When looking at valuations, Parsley Energy, Inc. (PE) has a cheap P/E of 12.91x as compared to industry average of 16.71x. Moreover, it trades for 12.45 times the next 12 months of expected earnings. Also, it is trading at rather inexpensive levels at just over 0.93x price/book and 3.53x price/sales. Compared to others, Parsley Energy, Inc. is in a different league with regards to profitability, having net margins of 21.7%. To put some perspective around this, the industry’s average net margin is 6.89%. PE’s ROE is 7.1%, which is also considerably better than the industry’s ROE of 6.89%. It’s also not liquid in the near term, with a current ratio of 0.7. The stock has a debt/capital of 0.4.
Shares of Parsley Energy, Inc. (PE) have dropped -22.8% since the company’s Mar-19 earnings report. Over the past 12 fiscal quarters, Parsley Energy, Inc. (NYSE:PE) has topped consensus earnings estimates in 9 quarters (75%), missed earnings in 3 quarters (25%), whereas at 0 occasion EPS met analyst expectations. PE last reported earnings on November 01, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.45 per share, -72.39% change on the same period last year. That was better than consensus for $0.44. Revenue for the recent quarter stood at $511.02 million, up 112% on last year and above the $488.95 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $368.09 million to $562 million, which should be compared with $495.12 million generated last year. EPS is seen in a range of $0.16 to $0.53, against the $0.41 reported a year ago.