Parsley Energy, Inc. (PE) Receives Outperform Rating from Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Parsley Energy, Inc. (NYSE:PE) in a research note issued to investors on Sunday morning. Royal Bank Of Canada currently has a $36.00 price objective on the oil and natural gas company’s stock, down from their previous price objective of $37.00.

A number of other research firms have also commented on PE. Bank of America Corporation started coverage on Parsley Energy in a report on Wednesday, July 19th. They issued a buy rating and a $37.00 target price for the company. Barclays PLC set a $32.00 price objective on Parsley Energy and gave the stock a buy rating in a report on Wednesday, October 11th. Zacks Investment Research raised Parsley Energy from a sell rating to a hold rating in a report on Thursday. Citigroup Inc. cut their price objective on Parsley Energy from $51.00 to $49.00 and set a buy rating for the company in a report on Friday, October 13th. Finally, Williams Capital set a $39.00 price objective on Parsley Energy and gave the stock a buy rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $40.36.

Parsley Energy (NYSE:PE) traded down $0.01 during trading on Friday, hitting $27.18. The company’s stock had a trading volume of 4,536,800 shares, compared to its average volume of 5,684,890. The company has a market cap of $8,545.34, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 3.12 and a beta of -0.05. Parsley Energy has a twelve month low of $22.98 and a twelve month 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.

Parsley Energy (NYSE:PE) last posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. research analysts expect that Parsley Energy will post 0.47 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the company. Advisor Group Inc. lifted its position 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 valued at $113,000 after acquiring an additional 781 shares in the last quarter. American International Group Inc. lifted its position in shares of 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 acquiring an additional 180 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Parsley Energy by 15.8% in the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after acquiring an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of 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 acquiring an additional 735 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Parsley Energy in the third quarter valued at about $196,000. Institutional investors and hedge funds own 78.49% of the company’s stock.

About Parsley Energy

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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