Parsley Energy, Inc. (NYSE:PE) had its price target decreased by Citigroup Inc. from $51.00 to $49.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Citigroup Inc.’s target price indicates a potential upside of 84.77% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Barclays PLC set a $32.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research cut Parsley Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. BMO Capital Markets set a $35.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday. Jefferies Group LLC assumed coverage on Parsley Energy in a research note on Monday. They issued a “buy” rating and a $34.00 target price for the company. Finally, Stifel Nicolaus set a $46.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Three analysts have rated the stock with a sell rating and twenty-three have given a buy rating to the stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $41.00.

Parsley Energy (NYSE PE) traded up 0.509% on Friday, hitting $26.655. The stock had a trading volume of 474,004 shares. The firm has a market cap of $6.60 billion, a P/E ratio of 148.911 and a beta of -0.05. The firm’s 50-day moving average price is $25.76 and its 200-day moving average price is $28.12. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $39.82.

Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The firm had revenue of $213.68 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. On average, equities research analysts predict that Parsley Energy will post $0.48 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. lifted its holdings in Parsley Energy by 23.9% during the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 781 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Parsley Energy by 6.8% during 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. American International Group Inc. lifted its holdings in Parsley Energy by 3.8% during 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. Daiwa Securities Group Inc. lifted its holdings in Parsley Energy by 15.8% during the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after acquiring an additional 900 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Parsley Energy by 12.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 5,873 shares of the oil and natural gas company’s stock worth $191,000 after acquiring an additional 659 shares in the last quarter. Hedge funds and other institutional investors 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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