Parsley Energy (PE) Rating Lowered to Sell at ValuEngine

Parsley Energy (NYSE:PE) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Parsley Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 target price on shares of Parsley Energy in a research report on Sunday, September 3rd. Citigroup dropped their target price on Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Credit Suisse Group initiated coverage on Parsley Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $32.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $38.95.

Shares of Parsley Energy (NYSE:PE) opened at $29.44 on Friday. The stock has a market cap of $9,255.55, a PE ratio of 368.05 and a beta of -0.05. Parsley Energy has a fifty-two week low of $22.98 and a fifty-two week high of $37.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. Parsley Energy’s revenue was up 81.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. equities analysts predict that Parsley Energy will post 0.5 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Asset Management Company LTD lifted its stake in Parsley Energy by 15.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock valued at $1,738,000 after buying an additional 8,593 shares during the last quarter. King Luther Capital Management Corp lifted its stake in Parsley Energy by 53.7% in the third quarter. King Luther Capital Management Corp now owns 100,036 shares of the oil and natural gas company’s stock valued at $2,635,000 after buying an additional 34,930 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Parsley Energy by 46.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 88,989 shares of the oil and natural gas company’s stock valued at $2,469,000 after buying an additional 28,299 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Parsley Energy by 263.3% in the second quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock valued at $64,805,000 after buying an additional 1,692,425 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Parsley Energy by 0.8% in the third quarter. Swiss National Bank now owns 815,600 shares of the oil and natural gas company’s stock valued at $21,483,000 after buying an additional 6,600 shares during the last quarter. 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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