Parsley Energy (NYSE:PE) has been given a $34.00 price objective by investment analysts at Williams Capital in a research report issued on Thursday. The brokerage currently has a “hold” rating on the oil and natural gas company’s stock. Williams Capital’s target price indicates a potential upside of 37.32% from the stock’s current price.
A number of other research firms have also recently weighed in on PE. Piper Jaffray Companies reaffirmed a “buy” rating and set a $41.00 price objective on shares of Parsley Energy in a research report on Tuesday, January 9th. ValuEngine cut Parsley Energy from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Morgan Stanley lifted their price objective on Parsley Energy from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Credit Suisse Group set a $38.00 price objective on Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective (down from $37.00) on shares of Parsley Energy in a research report on Sunday, November 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $35.92.
Shares of Parsley Energy (NYSE PE) traded up $1.66 during trading hours on Thursday, reaching $24.76. The company’s stock had a trading volume of 2,821,945 shares, compared to its average volume of 6,740,292. The stock has a market capitalization of $7,322.07, a PE ratio of 311.04, a price-to-earnings-growth ratio of 0.93 and a beta of -0.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. Parsley Energy has a fifty-two week low of $21.12 and a fifty-two week high of $33.07.
Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $311.49 million for the quarter, compared to analysts’ expectations of $298.04 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The business’s revenue for the quarter was up 99.8% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. equities analysts forecast that Parsley Energy will post 0.51 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in Parsley Energy by 417.5% in the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after acquiring an additional 2,864 shares during the last quarter. Advisor Group Inc. increased its stake in 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 during the last quarter. Cerebellum GP LLC bought a new stake in Parsley Energy in the 4th quarter worth approximately $128,000. American International Group Inc. bought a new stake in Parsley Energy in the 4th quarter worth approximately $155,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Parsley Energy in the 3rd quarter worth approximately $196,000. 80.50% of the stock is currently owned by institutional investors and hedge funds.
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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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