Parsley Energy (NYSE:PE)‘s stock had its “buy” rating reaffirmed by investment analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They currently have a $41.00 price target on the oil and natural gas company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 34.07% from the stock’s previous close.

Several other brokerages have also issued reports on PE. Zacks Investment Research raised Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Barclays set a $32.00 price target on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, October 11th. Citigroup decreased their price objective on Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 13th. JPMorgan Chase & Co. decreased their price objective on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Finally, Northland Securities set a $36.00 price objective on Parsley Energy and gave the company a “buy” rating in a report on Monday, December 11th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.27.

Shares of Parsley Energy (PE) traded down $0.27 on Tuesday, reaching $30.58. The company’s stock had a trading volume of 2,690,800 shares, compared to its average volume of 3,626,500. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $37.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $9,560.00, a price-to-earnings ratio of 436.86 and a beta of -0.05.

Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $234.58 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 81.8% compared to the same quarter last year. equities research analysts expect that Parsley Energy will post 0.5 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in PE. Sumitomo Mitsui Asset Management Company LTD grew its stake in Parsley Energy by 15.0% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock valued at $1,738,000 after purchasing an additional 8,593 shares during the period. Redwood Investments LLC bought a new position in Parsley Energy in the 2nd quarter valued at $17,455,000. King Luther Capital Management Corp grew its stake in Parsley Energy by 53.7% in the 3rd quarter. King Luther Capital Management Corp now owns 100,036 shares of the oil and natural gas company’s stock valued at $2,635,000 after purchasing an additional 34,930 shares during the period. Ashburton Jersey Ltd bought a new position in Parsley Energy in the 4th quarter valued at $1,213,000. Finally, Pacer Advisors Inc. grew its stake in Parsley Energy by 15.8% in 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 purchasing an additional 5,492 shares during the period. Institutional investors and hedge funds own 80.16% of the company’s stock.

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Parsley Energy Company Profile

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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