Parsley Energy, Inc. (NYSE:PE)‘s stock had its “buy” rating reissued by KeyCorp in a note issued to investors on Tuesday. They currently have a $39.00 target price on the oil and natural gas company’s stock. KeyCorp’s price objective suggests a potential upside of 52.28% from the company’s previous close.

PE has been the topic of several other research reports. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Northland Securities set a $43.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Monday, July 17th. Piper Jaffray Companies dropped their price objective on shares of Parsley Energy from $42.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and set a $46.00 price objective on shares of Parsley Energy in a research note on Sunday, September 3rd. Finally, Barclays PLC dropped their price objective on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Parsley Energy currently has a consensus rating of “Buy” and an average price target of $40.00.

Parsley Energy (NYSE PE) traded down 2.07% during midday trading on Tuesday, hitting $25.08. 2,505,604 shares of the company were exchanged. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $39.82. The firm has a market capitalization of $6.21 billion, a PE ratio of 140.11 and a beta of -0.07. The stock has a 50 day moving average of $25.32 and a 200 day moving average of $28.65.

Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.06). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million for the quarter, compared to the consensus estimate of $216.54 million. During the same period in the previous year, the firm earned $0.04 EPS. The company’s revenue was up 99.9% on a year-over-year basis. On average, equities analysts predict that Parsley Energy will post $0.50 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This piece of content was posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/09/19/keycorp-reaffirms-buy-rating-for-parsley-energy-inc-pe.html.

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in shares of Parsley Energy by 15.8% in the second quarter. Pacer Advisors Inc. now owns 40,202 shares of the oil and natural gas company’s stock worth $1,116,000 after purchasing an additional 5,492 shares during the period. Addison Capital Co boosted its position in shares of Parsley Energy by 7.9% in the second quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock worth $424,000 after purchasing an additional 1,114 shares during the period. Prudential Financial Inc. boosted its position in shares of Parsley Energy by 5.5% in the first quarter. Prudential Financial Inc. now owns 10,970 shares of the oil and natural gas company’s stock worth $357,000 after purchasing an additional 570 shares during the period. Wellington Management Group LLP boosted its position in shares of Parsley Energy by 27.5% in the first quarter. Wellington Management Group LLP now owns 7,344,323 shares of the oil and natural gas company’s stock worth $238,765,000 after purchasing an additional 1,583,529 shares during the period. Finally, Motco bought a new position in shares of Parsley Energy in the second quarter worth approximately $278,000. Institutional investors and hedge funds own 98.70% of the company’s stock.

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)

Receive News & Ratings for Parsley Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.