Robert W. Baird assumed coverage on shares of Parsley Energy (NYSE:PE) in a research report released on Tuesday, December 19th, Marketbeat reports. The firm issued an outperform rating and a $33.00 price target on the oil and natural gas company’s stock.
Several other research analysts also recently weighed in on PE. Northland Securities set a $43.00 price target on Parsley Energy and gave the stock a buy rating in a research note on Monday, August 21st. ValuEngine downgraded Parsley Energy from a hold rating to a sell rating in a research note on Friday, September 1st. Stifel Nicolaus restated a buy rating and issued a $46.00 price target on shares of Parsley Energy in a research note on Sunday, September 3rd. Piper Jaffray Companies dropped their price target on Parsley Energy from $42.00 to $31.00 and set an overweight rating for the company in a research note on Monday, September 18th. Finally, KeyCorp reaffirmed a buy rating and set 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 assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $39.27.
Shares of Parsley Energy (NYSE:PE) traded down $0.19 during trading hours on Tuesday, hitting $29.12. The company had a trading volume of 9,862,700 shares, compared to its average volume of 3,390,000. The company has a market cap of $9,150.00, a P/E ratio of 416.00 and a beta of -0.05. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. 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 quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. The company had revenue of $241.02 million during the quarter, compared to the consensus estimate of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The firm’s revenue was up 81.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. research analysts predict that Parsley Energy will post 0.5 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Parsley Energy by 15.0% during 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 in the last quarter. King Luther Capital Management Corp grew its position in shares of Parsley Energy by 53.7% during the 3rd quarter. King Luther Capital Management Corp now owns 100,036 shares of the oil and natural gas company’s stock worth $2,635,000 after buying an additional 34,930 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Parsley Energy by 15.8% during 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 in the last quarter. Motco bought a new position in shares of Parsley Energy during the 2nd quarter worth $278,000. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of Parsley Energy by 46.6% during 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 in the last quarter. 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.
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