Parsley Energy, Inc. (NYSE:PE) had its price target lowered by Williams Capital from $36.00 to $33.00 in a research note issued to investors on Wednesday. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
A number of other research firms have also issued reports on PE. BidaskClub lowered Parsley Energy from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Parsley Energy from a sell rating to a hold rating in a research note on Thursday, July 27th. Seaport Global Securities lowered Parsley Energy from a buy rating to a neutral rating and set a $30.00 target price on the stock. in a research note on Monday, July 17th. Northland Securities set a $43.00 target price on Parsley Energy and gave the stock a buy rating in a research note on Monday, July 17th. Finally, Stifel Nicolaus restated a buy rating and issued a $39.00 target price on shares of Parsley Energy in a research note on Friday, July 14th. Three research analysts have rated the stock with a sell rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $40.73.
Parsley Energy (NYSE:PE) traded down 1.84% during mid-day trading on Wednesday, hitting $26.11. The stock had a trading volume of 5,715,342 shares. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82. The stock has a market capitalization of $6.47 billion, a P/E ratio of 145.87 and a beta of -0.05. The company’s 50 day moving average is $25.97 and its 200-day moving average is $27.94.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The company had revenue of $213.68 million for the quarter, compared to the consensus estimate of $216.54 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year. On average, analysts expect 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 business. BlueCrest Capital Management Ltd lifted its holdings in Parsley Energy by 1.5% in 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 buying an additional 143 shares during the period. American International Group Inc. lifted its holdings in Parsley Energy by 3.8% in 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 buying an additional 180 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Parsley Energy by 6.8% in 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 buying an additional 300 shares during the period. Atria Investments LLC lifted its holdings in Parsley Energy by 3.2% in the 2nd quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock worth $281,000 after buying an additional 315 shares during the period. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in Parsley Energy by 6.7% in 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 buying an additional 565 shares during the period. 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.
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