Parsley Energy, Inc. (NYSE:PE)‘s stock had its “overweight” rating restated by equities researchers at US Capital Advisors in a report issued on Monday. US Capital Advisors also issued estimates for Parsley Energy’s FY2017 earnings at $0.55 EPS, FY2018 earnings at $1.41 EPS, FY2019 earnings at $2.06 EPS, FY2020 earnings at $2.72 EPS and FY2021 earnings at $3.50 EPS.

Several other equities analysts also recently issued reports on PE. BidaskClub downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Monday, August 21st. J P Morgan Chase & Co reduced their price target on shares of Parsley Energy from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday, September 26th. Barclays PLC reduced their price target on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. Finally, Seaport Global Securities raised shares of Parsley Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $32.00 in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Parsley Energy currently has a consensus rating of “Buy” and a consensus target price of $41.18.

Parsley Energy (PE) opened at 26.71 on Monday. The firm’s 50-day moving average is $25.42 and its 200-day moving average is $28.27. The stock has a market cap of $6.61 billion, a P/E ratio of 149.22 and a beta of -0.05. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.06). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The firm had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. During the same period last year, the firm posted $0.04 EPS. The business’s revenue was up 99.9% compared to the same quarter last year. On average, equities analysts forecast that Parsley Energy will post $0.48 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the business. BlueCrest Capital Management Ltd raised its position in Parsley Energy by 1.5% in the first quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock worth $325,000 after acquiring an additional 143 shares in the last quarter. American International Group Inc. raised its position in Parsley Energy by 3.8% in the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 300 shares in the last quarter. Atria Investments LLC raised its position in Parsley Energy by 3.2% in the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock worth $281,000 after acquiring an additional 315 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in Parsley Energy by 6.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock worth $251,000 after acquiring an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.

About Parsley Energy

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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