Parsley Energy Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:PE)
Shares of Parsley Energy (NYSE:PE) have received a consensus rating of “Buy” from the thirteen ratings firms that are covering the stock, American Banking & Market News reports. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $28.14.
PE has been the subject of a number of recent research reports. Analysts at Raymond James raised their price target on shares of Parsley Energy from $30.00 to $31.00 in a research note on Tuesday, August 26th. They now have an “outperform” rating on the stock. Separately, analysts at Johnson Rice initiated coverage on shares of Parsley Energy in a research note on Tuesday, August 26th. They set an “overweight” rating on the stock.
Parsley Energy (NYSE:PE) traded up 0.58% during mid-day trading on Friday, hitting $20.95. 117,670 shares of the company’s stock traded hands. Parsley Energy has a 52 week low of $19.29 and a 52 week high of $25.70. The stock has a 50-day moving average of $21.87 and a 200-day moving average of $22.76. The company’s market cap is $2.340 billion.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $82.30 million for the quarter, compared to the consensus estimate of $77.10 million. Analysts expect that Parsley Energy will post $0.49 EPS for the current fiscal year.
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin.
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