Parsley Energy, Inc. (PE) Given a $34.00 Price Target by Piper Jaffray Companies Analysts
Parsley Energy, Inc. (NYSE:PE) received a $34.00 price objective from Piper Jaffray Companies in a report released on Monday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 41.37% from the company’s previous close.
Several other research firms have also issued reports on PE. BidaskClub lowered shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Seaport Global Securities lowered shares of Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Monday, July 17th. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $39.00 price target on shares of Parsley Energy in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $40.86.
Shares of Parsley Energy (NYSE:PE) traded down 1.15% during trading on Monday, hitting $24.05. The stock had a trading volume of 10,379,482 shares. The firm’s 50-day moving average is $26.01 and its 200-day moving average is $27.77. The firm has a market cap of $5.96 billion, a P/E ratio of 134.36 and a beta of -0.05. Parsley Energy has a one year low of $22.98 and a one year high of $39.82.
Parsley Energy (NYSE:PE) last posted 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 Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The business had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The company’s quarterly revenue was up 99.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 EPS. Equities research analysts forecast that Parsley Energy will post $0.47 EPS for the current year.
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Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Parsley Energy by 15.8% during the 2nd quarter. Pacer Advisors Inc. now owns 40,202 shares of the oil and natural gas company’s stock valued at $1,116,000 after acquiring an additional 5,492 shares in the last quarter. Motco purchased a new position in shares of Parsley Energy during the 2nd quarter valued at $278,000. JPMorgan Chase & Co. grew its holdings in shares of Parsley Energy by 263.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock valued at $64,805,000 after acquiring an additional 1,692,425 shares in the last quarter. Addison Capital Co grew its holdings in shares of Parsley Energy by 7.9% during the 2nd quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock valued at $424,000 after acquiring an additional 1,114 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of Parsley Energy by 46.6% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 88,989 shares of the oil and natural gas company’s stock valued at $2,469,000 after acquiring an additional 28,299 shares in the last quarter. Institutional investors and hedge funds own 77.82% 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.
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