Parsley Energy, Inc. (NYSE:PE) has received a consensus recommendation of “Buy” from the twenty-four analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.62.
A number of research firms recently weighed in on PE. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Northland Securities set a $43.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, July 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $46.00 price objective on shares of Parsley Energy in a research report on Sunday, September 3rd. Barclays PLC lowered their price objective on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Finally, BidaskClub lowered shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th.
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Several large investors have recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new position in shares of Parsley Energy during the 2nd quarter worth $216,000. Dynamic Technology Lab Private Ltd raised its stake in shares of Parsley Energy by 6.7% during 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 last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Parsley Energy by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 235,265 shares of the oil and natural gas company’s stock worth $6,529,000 after buying an additional 4,661 shares during the last quarter. Proxima Capital Management LLC acquired a new position in shares of Parsley Energy during the 2nd quarter worth $5,966,000. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of Parsley Energy during the 2nd quarter worth $6,244,000. 98.71% of the stock is owned by institutional investors and hedge funds.
Parsley Energy (NYSE PE) traded down 3.67% during trading on Thursday, hitting $23.86. 6,702,979 shares of the company traded hands. Parsley Energy has a 52-week low of $22.98 and a 52-week high of $39.82. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 133.30 and a beta of -0.07. The company’s 50-day moving average is $25.99 and its 200 day moving average is $28.91.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share 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 firm had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same quarter last year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 99.9% on a year-over-year basis. On average, equities analysts anticipate that Parsley Energy will post $0.50 earnings per share for the current year.
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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