Parsley Energy, Inc. (PE) PT Set at $35.00 by BMO Capital Markets

Parsley Energy, Inc. (NYSE:PE) has been assigned a $35.00 price objective by BMO Capital Markets in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. BMO Capital Markets’ target price points to a potential upside of 29.82% from the company’s current price.

Several other equities analysts have also recently commented on PE. Scotiabank set a $38.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Barclays PLC cut their price target on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. KeyCorp reaffirmed a “buy” rating and issued a $39.00 price target on shares of Parsley Energy in a report on Tuesday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $39.00 price target on shares of Parsley Energy in a report on Friday, July 14th. Finally, Imperial Capital initiated coverage on Parsley Energy in a report on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 price target for the company. Three analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.96.

Shares of Parsley Energy (NYSE:PE) opened at 26.96 on Tuesday. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82. The stock has a market capitalization of $6.68 billion, a P/E ratio of 150.61 and a beta of -0.05. The firm’s 50-day moving average price is $25.72 and its 200 day moving average price is $28.13.

Parsley Energy (NYSE:PE) last posted 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 for the quarter, compared to analyst estimates of $216.54 million. During the same period in the prior year, the firm posted $0.04 EPS. Parsley Energy’s revenue for the quarter was up 99.9% on a year-over-year basis. Analysts predict that Parsley Energy will post $0.48 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd grew its position in Parsley Energy by 1.5% during the 1st quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock worth $325,000 after acquiring an additional 143 shares during the last quarter. 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 worth $158,000 after acquiring an additional 180 shares during the last quarter. Envestnet Asset Management Inc. grew its position 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. Atria Investments LLC grew its position in Parsley Energy by 3.2% during the 2nd quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock worth $281,000 after acquiring an additional 315 shares during the last quarter. Finally, 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 worth $251,000 after acquiring an additional 565 shares during the last quarter. Institutional investors and hedge funds own 77.94% 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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