Parsley Energy (NYSE:PE) had its target price cut by equities researchers at Stifel Nicolaus from $49.00 to $48.00 in a research report issued on Friday, Marketbeat reports. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 104.60% from the company’s previous close.
PE has been the subject of several other reports. Northland Securities reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Parsley Energy in a research note on Friday, November 10th. Credit Suisse Group set a $38.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital downgraded Parsley Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $38.00 to $34.00 in a research note on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Parsley Energy in a research note on Friday, February 2nd. Finally, Morgan Stanley downgraded Parsley Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $36.00.
Parsley Energy (NYSE:PE) opened at $23.46 on Friday. Parsley Energy has a one year low of $21.12 and a one year high of $33.07. The firm has a market capitalization of $7,362.94, a P/E ratio of 61.63, a P/E/G ratio of 0.93 and a beta of -0.32. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.
Hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Parsley Energy by 417.5% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after purchasing an additional 2,864 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Parsley Energy by 23.9% during the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after purchasing an additional 781 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Parsley Energy during the fourth quarter worth $128,000. American International Group Inc. acquired a new stake in shares of Parsley Energy during the fourth quarter worth $155,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Parsley Energy during the third quarter worth $196,000. Institutional investors and hedge funds own 80.19% 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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