Research analysts at Credit Suisse Group began coverage on shares of Parsley Energy (NYSE:PE) in a research note issued on Monday. The brokerage set an “outperform” rating and a $32.00 price target on the oil and natural gas company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 20.39% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Northland Securities set a $36.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Monday. Scotiabank restated a “buy” rating and set a $38.00 price target on shares of Parsley Energy in a research note on Wednesday, November 22nd. Barclays raised their price target on Parsley Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 20th. J P Morgan Chase & Co dropped their price target on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 15th. Finally, BMO Capital Markets set a $35.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.45.

Shares of Parsley Energy (NYSE PE) traded up $0.48 during midday trading on Monday, hitting $26.58. The stock had a trading volume of 2,882,100 shares, compared to its average volume of 4,802,119. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $38.18. The firm has a market cap of $8,205.50, a price-to-earnings ratio of 68.68 and a beta of -0.05.

Parsley Energy (NYSE:PE) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The business’s quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. sell-side analysts forecast that Parsley Energy will post 0.49 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of PE. Metropolitan Life Insurance Co. NY raised its holdings in Parsley Energy by 14.1% during the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after purchasing an additional 735 shares during the last quarter. Aperio Group LLC raised its holdings in Parsley Energy by 76.1% during the second quarter. Aperio Group LLC now owns 39,278 shares of the oil and natural gas company’s stock worth $1,090,000 after purchasing an additional 16,973 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Parsley Energy by 548.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 38,067 shares of the oil and natural gas company’s stock worth $1,056,000 after purchasing an additional 32,194 shares during the last quarter. Daiwa Securities Group Inc. raised 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 purchasing an additional 900 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in Parsley Energy by 18.0% during the second quarter. World Asset Management Inc now owns 9,666 shares of the oil and natural gas company’s stock worth $268,000 after purchasing an additional 1,472 shares during the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.

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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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