Parsley Energy (PE) Stock Rating Reaffirmed by Piper Jaffray Companies

Parsley Energy (NYSE:PE)‘s stock had its “buy” rating reiterated by analysts at Piper Jaffray Companies in a report released on Tuesday. They presently have a $41.00 price target on the oil and natural gas company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 34.07% from the company’s current price.

Several other research analysts have also recently weighed in on the company. ValuEngine cut Parsley Energy from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Robert W. Baird assumed coverage on Parsley Energy in a research report on Tuesday, December 19th. They set an “outperform” rating and a $33.00 price objective for the company. Credit Suisse Group assumed coverage on Parsley Energy in a research report on Monday, December 11th. They set an “outperform” rating and a $32.00 price objective for the company. Northland Securities set a $36.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Scotiabank reissued a “buy” rating and set a $38.00 price target on shares of Parsley Energy in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $39.27.

Parsley Energy (NYSE:PE) traded down $0.27 during mid-day trading on Tuesday, hitting $30.58. The stock had a trading volume of 2,690,800 shares, compared to its average volume of 3,626,500. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $9,560.00, a PE ratio of 436.86 and a beta of -0.05. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $37.72.

Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. Parsley Energy’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. sell-side analysts anticipate that Parsley Energy will post 0.5 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Advisor Group Inc. raised its stake in 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 buying an additional 781 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Parsley Energy in the third quarter valued at approximately $196,000. Sentry Investment Management LLC bought a new stake in Parsley Energy in the second quarter valued at approximately $216,000. Trexquant Investment LP bought a new stake in Parsley Energy in the third quarter valued at approximately $206,000. Finally, IFM Investors Pty Ltd bought a new stake in Parsley Energy in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 80.16% 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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