Parsley Energy, Inc. (NYSE:PE) had its price objective cut by investment analysts at J P Morgan Chase & Co from $44.00 to $38.00 in a report released on Wednesday. The firm presently has an “overweight” rating on the oil and natural gas company’s stock. J P Morgan Chase & Co’s price objective points to a potential upside of 46.38% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. Citigroup Inc. set a $50.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Friday, July 21st. Bank of America Corporation started coverage on Parsley Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $37.00 price objective on the stock. Williams Capital set a $39.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Thursday, August 3rd. Seaport Global Securities upgraded Parsley Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.00 in a research note on Friday, August 11th. Finally, Northland Securities set a $43.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $40.09.
Parsley Energy (NYSE:PE) traded down $0.81 during midday trading on Wednesday, hitting $25.96. The stock had a trading volume of 4,725,700 shares, compared to its average volume of 4,932,081. The company has a market cap of $8,416.43, a PE ratio of 70.45, a price-to-earnings-growth ratio of 3.01 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 has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.
Parsley Energy (NYSE:PE) last released its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The company had revenue of $241.02 million for 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%. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. equities research analysts forecast that Parsley Energy will post 0.48 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its holdings in shares of Parsley Energy by 23.9% during 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 acquiring an additional 781 shares in the last quarter. American International Group Inc. raised its holdings in shares of Parsley Energy by 3.8% during the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after acquiring an additional 180 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Parsley Energy by 15.8% during the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after acquiring an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Parsley Energy by 14.1% during the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after acquiring an additional 735 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Parsley Energy during the third quarter valued at approximately $196,000. Institutional investors own 78.49% 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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