Parsley Energy, Inc. (PE) Receives Consensus Rating of “Buy” from Analysts
Shares of Parsley Energy, Inc. (NYSE:PE) have received an average recommendation of “Buy” from the twenty-six research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and twenty-three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $40.23.
A number of research firms recently commented on PE. Barclays PLC decreased their target price on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. KeyCorp reaffirmed a “buy” rating and set a $39.00 target price on shares of Parsley Energy in a report on Tuesday, September 19th. Imperial Capital began coverage on Parsley Energy in a report on Tuesday, August 15th. They set an “outperform” rating and a $36.00 target price for the company. US Capital Advisors reaffirmed an “overweight” rating on shares of Parsley Energy in a report on Monday, October 2nd. Finally, BMO Capital Markets set a $35.00 target price on Parsley Energy and gave the stock a “buy” rating in a report on Tuesday, November 14th.
Several institutional investors have recently bought and sold shares of PE. Apollo Management Holdings L.P. purchased a new stake in shares of Parsley Energy in the second quarter valued at approximately $414,418,000. Victory Capital Management Inc. increased its position in shares of Parsley Energy by 250.9% in the second quarter. Victory Capital Management Inc. now owns 7,264,371 shares of the oil and natural gas company’s stock valued at $201,586,000 after buying an additional 5,194,292 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Parsley Energy by 164.3% in the third quarter. Point72 Asset Management L.P. now owns 5,709,178 shares of the oil and natural gas company’s stock valued at $150,380,000 after buying an additional 3,549,307 shares in the last quarter. FMR LLC increased its position in shares of Parsley Energy by 40.2% in the second quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock valued at $280,034,000 after buying an additional 2,893,045 shares in the last quarter. Finally, Boston Partners increased its position in shares of Parsley Energy by 19.3% during the third quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock worth $402,148,000 after purchasing an additional 2,466,399 shares in the last quarter. Institutional investors and hedge funds own 78.70% of the company’s stock.
Parsley Energy (NYSE:PE) last released its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The firm had revenue of $241.02 million during the quarter, compared to the consensus estimate of $234.58 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s revenue was up 81.8% compared to the same quarter last year. analysts expect that Parsley Energy will post 0.47 EPS for the current fiscal year.
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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