Stifel Nicolaus Analysts Give Parsley Energy, Inc. (PE) a $46.00 Price Target
Parsley Energy, Inc. (NYSE:PE) has been assigned a $46.00 target price by investment analysts at Stifel Nicolaus in a research note issued on Thursday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 70.18% from the stock’s previous close.
A number of other research firms also recently weighed in on PE. Williams Capital raised shares of Parsley Energy from a “hold” rating to a “buy” rating and decreased their target price for the company from $39.00 to $37.00 in a research report on Monday, June 12th. Wolfe Research started coverage on shares of Parsley Energy in a research report on Thursday, June 15th. They set an “outperform” rating and a $40.00 target price for the company. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 target price on shares of Parsley Energy in a research report on Friday, June 16th. BMO Capital Markets set a $35.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, June 26th. 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 investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $41.18.
Shares of Parsley Energy (NYSE:PE) traded down 2.053% during midday trading on Thursday, hitting $26.475. 2,799,920 shares of the stock traded hands. The firm’s 50-day moving average is $25.49 and its 200 day moving average is $28.26. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 147.905 and a beta of -0.05.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). The business had revenue of $213.68 million during the quarter, compared to the consensus estimate of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The firm’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. Equities analysts forecast that Parsley Energy will post $0.48 earnings per share for the current year.
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A number of large investors have recently modified their holdings of PE. Viking Fund Management bought a new position in Parsley Energy during the 4th quarter valued at $7,380,000. Russell Frank Co lifted its stake in Parsley Energy by 113.6% during the 4th quarter. Russell Frank Co now owns 160,935 shares of the oil and natural gas company’s stock valued at $2,843,000 after acquiring an additional 85,593 shares in the last quarter. California State Teachers Retirement System lifted its stake in Parsley Energy by 1.7% during the 4th quarter. California State Teachers Retirement System now owns 171,118 shares of the oil and natural gas company’s stock valued at $3,157,000 after acquiring an additional 2,789 shares in the last quarter. Swiss National Bank lifted its stake in Parsley Energy by 16.8% during the 4th quarter. Swiss National Bank now owns 135,500 shares of the oil and natural gas company’s stock valued at $2,500,000 after acquiring an additional 19,500 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Parsley Energy during the 4th quarter valued at $2,644,000. Institutional investors and hedge funds own 77.94% 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.
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