Analysts at Robert W. Baird initiated coverage on shares of Parsley Energy (NYSE:PE) in a report released on Tuesday. The brokerage set an “outperform” rating and a $33.00 price target on the oil and natural gas company’s stock. Robert W. Baird’s price target points to a potential upside of 23.55% from the company’s previous close.
Several other equities analysts have also recently weighed in on PE. Northland Securities set a $43.00 price objective on Parsley Energy and gave the company a “buy” rating in a report on Monday, August 21st. ValuEngine cut Parsley Energy from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Parsley Energy in a report on Sunday, September 3rd. Piper Jaffray Companies dropped their price objective on Parsley Energy from $42.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Parsley Energy in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.17.
Parsley Energy (NYSE PE) opened at $26.71 on Tuesday. The firm has a market capitalization of $8,142.62, a price-to-earnings ratio of 68.16 and a beta of -0.05. 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 fifty-two week low of $22.98 and a fifty-two week high of $37.72.
A number of institutional investors and hedge funds have recently modified their holdings of PE. KBC Group NV acquired a new position in Parsley Energy in the 3rd quarter worth about $104,000. Thompson Davis & CO. Inc. increased its holdings in Parsley Energy by 93.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 3,875 shares of the oil and natural gas company’s stock worth $105,000 after purchasing an additional 1,875 shares in the last quarter. Fortaleza Asset Management Inc. grew its position in shares of Parsley Energy by 11.0% in the 4th quarter. Fortaleza Asset Management Inc. now owns 3,020 shares of the oil and natural gas company’s stock valued at $106,000 after buying an additional 300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Parsley Energy by 9.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,043 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 251 shares during the last quarter. Finally, Advisor Group Inc. grew its position in shares of Parsley Energy by 23.9% in the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 781 shares during the last quarter. 80.16% of the stock is owned by institutional investors and hedge funds.
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.
