Parsley Energy, Inc. (NYSE:PE) had its price objective upped by stock analysts at Citigroup Inc. from $48.00 to $50.00 in a research report issued on Friday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 79.86% from the company’s previous close.

PE has been the subject of several other reports. BidaskClub upgraded shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Bank of America Corporation initiated coverage on shares of Parsley Energy in a research report on Wednesday. They set a “buy” rating and a $37.00 target price for the company. FBR & Co reiterated a “buy” rating on shares of Parsley Energy in a research report on Friday, May 5th. UBS AG initiated coverage on shares of Parsley Energy in a research report on Thursday, March 23rd. They set a “buy” rating and a $42.00 target price for the company. Finally, Scotiabank set a $38.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Parsley Energy presently has an average rating of “Buy” and a consensus price target of $40.37.

Parsley Energy (NYSE:PE) traded down 1.17% during trading on Friday, reaching $27.80. 5,264,905 shares of the company were exchanged. Parsley Energy has a one year low of $25.17 and a one year high of $39.82. The firm’s 50-day moving average is $27.78 and its 200 day moving average is $31.10. The company’s market capitalization is $6.85 billion.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Parsley Energy had a negative net margin of 4.26% and a positive return on equity of 2.04%. The company had revenue of $200.90 million during the quarter, compared to analyst estimates of $181.23 million. During the same period last year, the business earned ($0.02) earnings per share. Parsley Energy’s revenue was up 222.5% compared to the same quarter last year. On average, analysts anticipate that Parsley Energy will post $0.62 EPS for the current fiscal year.

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In other Parsley Energy news, insider Bryan Sheffield sold 1,687,500 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $31.42, for a total transaction of $53,021,250.00. Following the transaction, the insider now directly owns 12,059,224 shares of the company’s stock, valued at approximately $378,900,818.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Colin Roberts sold 3,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $29.56, for a total transaction of $88,680.00. Following the transaction, the insider now directly owns 232,726 shares in the company, valued at $6,879,380.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,723,900 shares of company stock worth $54,188,730. 15.51% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Adams Natural Resources Fund Inc. bought a new position in shares of Parsley Energy during the second quarter worth about $6,041,000. Quantitative Systematic Strategies LLC increased its position in shares of Parsley Energy by 708.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 70,526 shares of the oil and natural gas company’s stock worth $1,918,000 after buying an additional 61,802 shares during the last quarter. Rothschild Capital Partners LLC bought a new position in shares of Parsley Energy during the second quarter worth about $779,000. BB&T Corp increased its position in shares of Parsley Energy by 10.9% in the second quarter. BB&T Corp now owns 24,571 shares of the oil and natural gas company’s stock worth $683,000 after buying an additional 2,415 shares during the last quarter. Finally, Viking Fund Management LLC increased its position in shares of Parsley Energy by 8.3% in the second quarter. Viking Fund Management LLC now owns 780,000 shares of the oil and natural gas company’s stock worth $21,645,000 after buying an additional 60,000 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Parsley Energy Company Profile

Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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