Parsley Energy, Inc. (PE) PT Lowered to $33.00

Parsley Energy, Inc. (NYSE:PE) had its price target decreased by equities researchers at Williams Capital from $36.00 to $33.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Williams Capital’s target price suggests a potential upside of 26.39% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Barclays PLC dropped their price objective on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, August 8th. Scotiabank set a $38.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. KeyCorp restated a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a research report on Tuesday, September 19th. Stifel Nicolaus restated a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a research report on Friday, July 14th. Finally, Imperial Capital assumed coverage on shares of Parsley Energy in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 target price for the company. Three equities research analysts have rated the stock with a sell rating and twenty-three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.73.

Shares of Parsley Energy (NYSE PE) traded down 0.96% on Wednesday, hitting $25.86. 3,313,217 shares of the stock were exchanged. Parsley Energy has a one year low of $22.98 and a one year high of $39.82. The company has a 50-day moving average price of $26.02 and a 200-day moving average price of $27.93. The firm has a market capitalization of $6.40 billion, a PE ratio of 144.47 and a beta of -0.05.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same quarter last year, the firm earned $0.04 EPS. Parsley Energy’s revenue for the quarter was up 99.9% compared to the same quarter last year. Equities research analysts expect that Parsley Energy will post $0.48 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. grew its holdings in Parsley Energy by 23.9% during 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. Envestnet Asset Management Inc. grew its holdings in Parsley Energy by 6.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 300 shares during the last quarter. American International Group Inc. grew its holdings in Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after acquiring an additional 900 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5

Other analysts have also recently issued research reports about the stock. Barclays PLC dropped their price objective on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, August 8th. Scotiabank set a $38.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. KeyCorp restated a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a research report on Tuesday, September 19th. Stifel Nicolaus restated a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a research report on Friday, July 14th. Finally, Imperial Capital assumed coverage on shares of Parsley Energy in a research report on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 target price for the company. Three equities research analysts have rated the stock with a sell rating and twenty-three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $40.73.

Shares of Parsley Energy (NYSE PE) traded down 0.96% on Wednesday, hitting $25.86. 3,313,217 shares of the stock were exchanged. Parsley Energy has a one year low of $22.98 and a one year high of $39.82. The company has a 50-day moving average price of $26.02 and a 200-day moving average price of $27.93. The firm has a market capitalization of $6.40 billion, a PE ratio of 144.47 and a beta of -0.05.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same quarter last year, the firm earned $0.04 EPS. Parsley Energy’s revenue for the quarter was up 99.9% compared to the same quarter last year. Equities research analysts expect that Parsley Energy will post $0.48 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/10/20/parsley-energy-inc-pe-pt-lowered-to-33-00.html.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. grew its holdings in Parsley Energy by 23.9% during 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. Envestnet Asset Management Inc. grew its holdings in Parsley Energy by 6.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 300 shares during the last quarter. American International Group Inc. grew its holdings in Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after acquiring an additional 900 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after acquiring an additional 735 shares during the last quarter. 77.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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