Credit Suisse Group started coverage on shares of Parsley Energy (NYSE:PE) in a report issued on Monday. The firm 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 suggests a potential upside of 20.03% from the stock’s current price.
Several other equities analysts have also commented on PE. Imperial Capital initiated coverage on shares of Parsley Energy in a research report on Tuesday, August 15th. They set an “outperform” rating and a $36.00 price objective for the company. Citigroup set a $51.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, August 15th. Northland Securities set a $43.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, August 21st. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $46.00 target price on shares of Parsley Energy in a report on Sunday, September 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the stock. Parsley Energy presently has an average rating of “Buy” and an average price target of $39.45.
Parsley Energy (PE) opened at $26.66 on Monday. 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 company 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 released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. During the same quarter last year, the business earned $0.05 earnings per share. Parsley Energy’s quarterly revenue was up 81.8% compared to the same quarter last year. equities research analysts forecast that Parsley Energy will post 0.49 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Asset Management Company LTD increased 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 worth $1,738,000 after buying an additional 8,593 shares during the period. Pacer Advisors Inc. increased 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 worth $1,116,000 after buying an additional 5,492 shares during the period. Motco purchased a new position in Parsley Energy in the 2nd quarter worth about $278,000. Commerzbank Aktiengesellschaft FI increased its stake in Parsley Energy by 46.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 88,989 shares of the oil and natural gas company’s stock worth $2,469,000 after buying an additional 28,299 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Parsley Energy by 263.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock worth $64,805,000 after buying an additional 1,692,425 shares during the period. 80.16% of the stock is currently owned by institutional investors.
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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.
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