Parsley Energy, Inc. (PE) Receives $40.86 Consensus Price Target from Brokerages

Shares of Parsley Energy, Inc. (NYSE:PE) have received a consensus rating of “Buy” from the twenty-six brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and twenty-three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.86.

PE has been the subject of a number of recent analyst reports. BidaskClub upgraded Parsley Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Zacks Investment Research downgraded Parsley Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 15th. Stifel Nicolaus reiterated a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a report on Friday, July 14th. Northland Securities set a $43.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, Seaport Global Securities downgraded Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a report on Monday, July 17th.

ILLEGAL ACTIVITY WARNING: “Parsley Energy, Inc. (PE) Receives $40.86 Consensus Price Target from Brokerages” was published by Week Herald and is owned by of Week Herald. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://weekherald.com/2017/11/15/parsley-energy-inc-pe-receives-40-86-consensus-price-target-from-brokerages.html.

Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. boosted its stake in 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 during the last quarter. Envestnet Asset Management Inc. boosted its stake in 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 during the last quarter. American International Group Inc. boosted its stake in 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 during the last quarter. Daiwa Securities Group Inc. boosted its stake in 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 during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Parsley Energy by 14.1% during the 1st 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 purchasing an additional 735 shares during the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.

Parsley Energy (NYSE:PE) traded up 0.6237% on Friday, reaching $25.4578. The company’s stock had a trading volume of 2,186,585 shares. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 142.2223 and a beta of -0.05. Parsley Energy has a 52-week low of $22.98 and a 52-week high of $39.82. The firm’s 50-day moving average price is $25.91 and its 200-day moving average price is $27.62.

Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. The business’s revenue was up 99.9% on a year-over-year basis. On average, equities analysts expect that Parsley Energy will post $0.47 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

Receive News & Ratings for Parsley Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply