Stifel Nicolaus Analysts Give Parsley Energy, Inc. (PE) a $46.00 Price Target

Stifel Nicolaus set a $46.00 price target on Parsley Energy, Inc. (NYSE:PE) in a research report released on Thursday. The firm currently has a buy rating on the oil and natural gas company’s stock.

PE has been the subject of a number of other reports. Citigroup Inc. set a $50.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research note on Friday, July 21st. ValuEngine cut shares of Parsley Energy from a hold rating to a sell rating in a research note on Friday, September 1st. Northland Securities set a $43.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research note on Monday, August 21st. Wolfe Research started coverage on shares of Parsley Energy in a research note on Thursday, June 15th. They issued an outperform rating and a $40.00 target price for the company. Finally, BidaskClub cut shares of Parsley Energy from a sell rating to a strong sell rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $41.18.

Parsley Energy (NYSE:PE) opened at 26.55 on Thursday. The company has a market cap of $6.58 billion, a P/E ratio of 148.32 and a beta of -0.05. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82. The company’s 50-day moving average is $25.55 and its 200-day moving average is $28.23.

Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). The company had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. On average, equities research analysts expect that Parsley Energy will post $0.48 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of PE. Advisor Group Inc. increased its holdings in shares of Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 781 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of 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 valued at $153,000 after purchasing an additional 300 shares in the last quarter. American International Group Inc. increased its holdings in shares of 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 valued at $158,000 after purchasing an additional 180 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after purchasing an additional 900 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Parsley Energy by 12.6% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 5,873 shares of the oil and natural gas company’s stock valued at $191,000 after purchasing an additional 659 shares in the last quarter. 77.94% of the stock is owned by hedge funds and other institutional investors.

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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