Parsley Energy, Inc. (PE) PT Lowered to $38.00

Parsley Energy, Inc. (NYSE:PE) had its price target trimmed by J P Morgan Chase & Co from $44.00 to $38.00 in a report published on Wednesday. The firm currently has an overweight rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also commented on the stock. BMO Capital Markets set a $35.00 price target on shares of Parsley Energy and gave the company a buy rating in a report on Tuesday, November 14th. Royal Bank Of Canada restated an outperform rating and issued a $36.00 price objective (down from $37.00) on shares of Parsley Energy in a report on Sunday, November 12th. Northland Securities restated a buy rating and issued a $40.00 price objective on shares of Parsley Energy in a report on Friday, November 10th. Imperial Capital upped their price objective on shares of Parsley Energy from $36.00 to $37.00 and gave the stock an outperform rating in a report on Thursday, November 9th. Finally, Zacks Investment Research upgraded shares of Parsley Energy from a sell rating to a hold rating in a report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $40.09.



Shares of Parsley Energy (NYSE PE) opened at $25.45 on Wednesday. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $39.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a market cap of $7,850.00, a price-to-earnings ratio of 68.32, a P/E/G ratio of 2.91 and a beta of -0.05.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The company had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. During the same period in the prior year, the business posted $0.05 EPS. The firm’s revenue was up 81.8% compared to the same quarter last year. equities analysts anticipate that Parsley Energy will post 0.48 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the stock. American International Group Inc. grew its position 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 valued at $158,000 after purchasing an additional 180 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in Parsley Energy by 6.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after purchasing an additional 565 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position 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 valued at $193,000 after purchasing an additional 735 shares during the last quarter. Kennedy Capital Management Inc. grew its position in Parsley Energy by 0.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock valued at $2,669,000 after purchasing an additional 738 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Parsley Energy by 3.9% during the 2nd quarter. ProShare Advisors LLC now owns 20,637 shares of the oil and natural gas company’s stock valued at $573,000 after purchasing an additional 768 shares during the last quarter. 78.49% of the stock is currently owned by institutional investors.

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)

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