Parsley Energy Inc. (NYSE:PE) was downgraded by equities researchers at Macquarie from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday.

Several other equities research analysts have also recently commented on PE. Deutsche Bank AG boosted their price objective on shares of Parsley Energy from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Wunderlich started coverage on shares of Parsley Energy in a research report on Friday, June 17th. They issued a “buy” rating and a $32.00 price objective on the stock. Barclays PLC started coverage on shares of Parsley Energy in a research report on Tuesday, June 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Thursday, June 30th. Finally, Simmons started coverage on shares of Parsley Energy in a research report on Friday, July 8th. They set an “overweight” rating and a $31.00 price target on the stock. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $31.28.

Analyst Recommendations for Parsley Energy (NYSE:PE)

Parsley Energy (NYSE:PE) opened at 36.54 on Wednesday. Parsley Energy has a 1-year low of $14.51 and a 1-year high of $37.04. The company has a 50 day moving average price of $33.65 and a 200 day moving average price of $28.26. The firm’s market cap is $6.26 billion.

Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.10. The company earned $106.30 million during the quarter, compared to the consensus estimate of $92.04 million. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. The company’s revenue was up 36.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, equities research analysts forecast that Parsley Energy will post $0.10 earnings per share for the current year.

In related news, insider Mike Hinson sold 25,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $27.42, for a total value of $685,500.00. Following the transaction, the insider now owns 646,653 shares in the company, valued at approximately $17,731,225.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew Gallagher sold 30,300 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $33.89, for a total transaction of $1,026,867.00. Following the completion of the transaction, the insider now owns 637,006 shares in the company, valued at approximately $21,588,133.34. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners raised its position in shares of Parsley Energy by 2.6% in the second quarter. Boston Partners now owns 16,650,072 shares of the company’s stock worth $450,551,000 after buying an additional 415,289 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Parsley Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 10,665,055 shares of the company’s stock worth $288,596,000 after buying an additional 2,895,325 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Parsley Energy by 1.9% in the second quarter. Van ECK Associates Corp now owns 6,493,563 shares of the company’s stock worth $175,716,000 after buying an additional 119,663 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Parsley Energy by 50.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,485,699 shares of the company’s stock worth $148,443,000 after buying an additional 1,843,378 shares during the last quarter. Finally, FMR LLC raised its position in shares of Parsley Energy by 37.9% in the second quarter. FMR LLC now owns 5,149,001 shares of the company’s stock worth $139,332,000 after buying an additional 1,414,784 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Parsley Energy Company Profile

Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

5 Day Chart for NYSE:PE

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