Parsley Energy’s (PE) “Buy” Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Parsley Energy (NYSE:PE) in a research note released on Tuesday, January 9th. Piper Jaffray Companies currently has a $41.00 price objective on the oil and natural gas company’s stock.

Other analysts also recently issued research reports about the company. Williams Capital cut their price target on Parsley Energy from $36.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, October 18th. Citigroup cut their target price on Parsley Energy from $51.00 to $49.00 and set a buy rating on the stock in a research note on Friday, October 13th. Barclays set a $32.00 target price on Parsley Energy and gave the company a buy rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $35.00 target price on Parsley Energy and gave the company a buy rating in a research note on Tuesday, October 10th. Finally, Jefferies Group assumed coverage on Parsley Energy in a research note on Monday, October 9th. They set a buy rating and a $34.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $38.76.

Shares of Parsley Energy (PE) traded up $0.12 during midday trading on Tuesday, hitting $28.84. The company had a trading volume of 5,966,017 shares, compared to its average volume of 5,113,909. The company has a market cap of $9,070.00, a P/E ratio of 412.00, a price-to-earnings-growth ratio of 1.52 and a beta of -0.05. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $37.72. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million for the quarter, compared to the consensus estimate 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 was up 81.8% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. equities research analysts forecast that Parsley Energy will post 0.5 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Parsley Energy by 15.0% during the 3rd 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 purchasing an additional 8,593 shares during the period. King Luther Capital Management Corp increased its position in shares of Parsley Energy by 53.7% during the 3rd 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 purchasing an additional 34,930 shares during the period. JPMorgan Chase & Co. increased its position in shares of Parsley Energy by 263.3% during the 2nd 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 purchasing an additional 1,692,425 shares during the period. Swiss National Bank increased its position in shares of Parsley Energy by 0.8% during the 3rd quarter. Swiss National Bank now owns 815,600 shares of the oil and natural gas company’s stock valued at $21,483,000 after purchasing an additional 6,600 shares during the period. Finally, L & S Advisors Inc acquired a new position in shares of Parsley Energy during the 3rd quarter valued at $5,589,000. 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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