Parsley Energy, Inc. (NYSE:PE) had its price objective lifted by Imperial Capital from $36.00 to $37.00 in a research report sent to investors on Thursday. They currently have an outperform rating on the oil and natural gas company’s stock. Imperial Capital also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.23 EPS.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Parsley Energy from a hold rating to a sell rating in a research report on Saturday, July 15th. Stifel Nicolaus restated a buy rating and issued a $39.00 price target on shares of Parsley Energy in a research report on Friday, July 14th. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the company a buy rating in a research report on Monday, July 17th. Seaport Global Securities lowered shares of Parsley Energy from a buy rating to a neutral rating and set a $30.00 price target on the stock. in a research report on Monday, July 17th. Finally, Bank of America Corporation began coverage on shares of Parsley Energy in a research report on Wednesday, July 19th. They issued a buy rating and a $37.00 price target on the stock. Two investment 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 has an average rating of Buy and a consensus target price of $40.36.
Shares of Parsley Energy (PE) traded down $0.01 during trading on Thursday, hitting $27.18. 4,536,800 shares of the stock traded hands, compared to its average volume of 5,695,913. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 0.92. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $39.82. The firm has a market cap of $8,545.34, a price-to-earnings ratio of 71.53, a P/E/G ratio of 3.16 and a beta of -0.05.
Parsley Energy (NYSE:PE) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating the 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 business had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. During the same period in the previous year, the business earned $0.05 EPS. The firm’s revenue was up 81.8% on a year-over-year basis. sell-side analysts predict that Parsley Energy will post 0.47 earnings per share for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of PE. Spot Trading L.L.C. bought a new stake in shares of Parsley Energy during the first quarter worth approximately $565,000. American International Group Inc. increased its stake in Parsley Energy by 3.8% in the first 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 in the last quarter. Morgan Stanley increased its stake in Parsley Energy by 26.2% in the first quarter. Morgan Stanley now owns 464,465 shares of the oil and natural gas company’s stock valued at $15,100,000 after purchasing an additional 96,407 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Parsley Energy by 14.1% in the first 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 in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Parsley Energy in the first quarter valued at approximately $666,000. 77.65% of the stock is owned by institutional investors and hedge funds.
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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