Parsley Energy (NYSE:PE) Given New $28.00 Price Target at Morgan Stanley

Parsley Energy (NYSE:PE) had its price objective lifted by research analysts at Morgan Stanley from $27.00 to $28.00 in a research report issued to clients and investors on Wednesday, February 7th. The brokerage presently has an “equal weight” rating on the oil and natural gas company’s stock. Morgan Stanley’s target price points to a potential upside of 19.35% from the stock’s current price.

Several other research firms have also recently commented on PE. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Barclays set a $32.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, October 11th. Citigroup lowered their target price on shares of Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 15th. Two research 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 an average target price of $36.00.

Parsley Energy (NYSE PE) opened at $23.46 on Wednesday. The company has a market cap of $7,362.94, a PE ratio of 61.63, 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 quick ratio of 0.92 and a current ratio of 0.92. Parsley Energy has a 52 week low of $21.12 and a 52 week high of $33.07.

Institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. boosted its holdings in shares of Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after buying an additional 2,864 shares during the period. Advisor Group Inc. boosted its holdings in shares of Parsley Energy by 23.9% in the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 781 shares during the period. Cerebellum GP LLC acquired a new position in shares of Parsley Energy in the fourth quarter worth about $128,000. American International Group Inc. acquired a new position in shares of Parsley Energy in the fourth quarter worth about $155,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Parsley Energy in the third quarter worth about $196,000. Institutional investors 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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