Shares of Parsley Energy, Inc. (NYSE:PE) have received an average recommendation of “Buy” from the twenty-six research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $39.45.

A number of equities analysts have recently weighed in on PE shares. Zacks Investment Research lowered Parsley Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Stifel Nicolaus reiterated a “buy” rating and set a $46.00 target price on shares of Parsley Energy in a research note on Sunday, September 3rd. Citigroup lowered their target price on Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. J P Morgan Chase & Co lowered their target price 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, Piper Jaffray Companies set a $34.00 target price on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, October 23rd.

Parsley Energy (PE) opened at $25.90 on Friday. The firm has a market capitalization of $8,397.28, a P/E ratio of 70.29 and a beta of -0.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $37.72.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The company 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 firm’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. research analysts expect that Parsley Energy will post 0.5 EPS for the current year.

A number of institutional investors have recently bought and sold shares of PE. Advisor Group Inc. increased its stake in Parsley Energy by 23.9% during the 2nd 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 during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Parsley Energy by 15.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after purchasing an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Parsley Energy by 14.1% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after purchasing an additional 735 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Parsley Energy in the 3rd quarter valued at $196,000. Finally, Trexquant Investment LP acquired a new stake in shares of Parsley Energy in the 3rd quarter valued at $206,000. 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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