Parsley Energy, Inc. (NYSE:PE) had its price objective reduced by equities research analysts at Williams Capital from $36.00 to $33.00 in a research report issued to clients and investors on Wednesday, October 18th, Marketbeat reports. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Williams Capital’s price target indicates a potential upside of 30.43% from the company’s current price.
A number of other equities analysts have also weighed in on the company. ValuEngine lowered Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Northland Securities set a $43.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Monday, July 17th. KeyCorp reaffirmed a “buy” rating and set a $39.00 target price on shares of Parsley Energy in a research report on Tuesday, September 19th. Stifel Nicolaus set a $46.00 target price on Parsley Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies decreased their target price on Parsley Energy from $42.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Three analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.86.
Parsley Energy (PE) traded up 3.18% on Wednesday, reaching $25.30. 4,907,209 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $25.91 and a 200-day moving average of $27.62. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 141.34 and a beta of -0.05. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82.
Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The company had revenue of $213.68 million during the quarter, compared to the consensus estimate of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business’s revenue was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, equities analysts expect that Parsley Energy will post $0.47 earnings per share for the current year.
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Hedge funds have recently bought and sold shares of the company. Spot Trading L.L.C. purchased a new stake in Parsley Energy during the first quarter valued at $565,000. Comerica Bank increased its position in Parsley Energy by 29.7% during the first quarter. Comerica Bank now owns 21,689 shares of the oil and natural gas company’s stock valued at $640,000 after acquiring an additional 4,972 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Parsley Energy by 6.8% during the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 300 shares during the last quarter. Prudential Financial Inc. increased its position in Parsley Energy by 5.5% during the first quarter. Prudential Financial Inc. now owns 10,970 shares of the oil and natural gas company’s stock valued at $357,000 after acquiring an additional 570 shares during the last quarter. Finally, American International Group Inc. increased its position in Parsley Energy by 3.8% during the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after acquiring an additional 180 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.
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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