Parsley Energy (PE) Earns “Buy” Rating from SunTrust Banks

SunTrust Banks restated their buy rating on shares of Parsley Energy (NYSE:PE) in a research report report published on Tuesday, February 6th. The brokerage currently has a $31.00 price objective on the oil and natural gas company’s stock. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.17 EPS, FY2018 earnings at $1.25 EPS, FY2019 earnings at $2.18 EPS and FY2020 earnings at $2.85 EPS.

A number of other brokerages have also commented on PE. Zacks Investment Research raised shares of Parsley Energy from a sell rating to a hold rating in a report on Thursday, November 9th. Barclays set a $32.00 target price on shares of Parsley Energy and gave the company a buy rating in a report on Wednesday, October 11th. Citigroup reduced their target price on shares of Parsley Energy from $51.00 to $49.00 and set a buy rating on the stock in a report on Friday, October 13th. ValuEngine lowered shares of Parsley Energy from a hold rating to a sell rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Parsley Energy from $44.00 to $38.00 and set an overweight rating on the stock in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $37.38.

Shares of Parsley Energy (NYSE PE) traded up $0.56 during trading hours on Tuesday, hitting $23.13. 3,131,900 shares of the stock were exchanged, compared to its average volume of 7,090,921. The company has a market cap of $7,168.02, a price-to-earnings ratio of 282.16, a price-to-earnings-growth ratio of 0.90 and a beta of -0.32. Parsley Energy has a 1 year low of $21.12 and a 1 year high of $33.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

Several institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd increased its stake in shares of Parsley Energy by 6.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock worth $251,000 after acquiring an additional 565 shares in the last quarter. Advisor Group Inc. increased its stake 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 worth $113,000 after acquiring an additional 781 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Parsley Energy by 13.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock worth $228,000 after acquiring an additional 945 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Parsley Energy by 20.1% in the 2nd quarter. Prudential Financial Inc. now owns 13,170 shares of the oil and natural gas company’s stock worth $365,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Parsley Energy by 5.5% in the 3rd quarter. Amalgamated Bank now owns 42,989 shares of the oil and natural gas company’s stock worth $1,132,000 after acquiring an additional 2,258 shares in the last quarter. Institutional investors own 80.19% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/02/14/parsley-energy-pe-given-buy-rating-at-suntrust-banks-2.html.

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)

Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply