Parsley Energy Inc (NYSE:PE) has been assigned a consensus rating of “Buy” from the twenty-six brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $39.27.
PE has been the topic of a number of analyst reports. Barclays set a $32.00 price target on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Citigroup cut their price target on Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. JPMorgan Chase & Co. cut their price target on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 15th. Finally, Northland Securities set a $36.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, December 11th.
Parsley Energy (NYSE PE) traded down $0.01 during trading on Wednesday, reaching $29.11. The company’s stock had a trading volume of 9,202,500 shares, compared to its average volume of 3,318,172. Parsley Energy has a one year low of $22.98 and a one year high of $37.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $9,154.95, a PE ratio of 363.92, a PEG ratio of 1.55 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company had revenue of $241.02 million for the quarter, compared to analysts’ expectations of $234.58 million. During the same period last year, the firm earned $0.05 earnings per share. Parsley Energy’s quarterly revenue was up 81.8% on a year-over-year basis. analysts anticipate that Parsley Energy will post 0.5 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of PE. Advisor Group Inc. increased its position 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 valued at $113,000 after acquiring an additional 781 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Parsley Energy in the 3rd quarter valued at about $196,000. Trexquant Investment LP acquired a new position in Parsley Energy in the 3rd quarter valued at about $206,000. IFM Investors Pty Ltd acquired a new position in Parsley Energy in the 3rd quarter valued at about $209,000. Finally, Teacher Retirement System of Texas acquired a new position in Parsley Energy in the 3rd quarter valued at about $209,000. Hedge funds and other institutional investors own 80.16% of the company’s stock.
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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