Parsley Energy, Inc. (NYSE:PE) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.

Other equities analysts have also recently issued research reports about the company. Citigroup Inc. reissued a “buy” rating and set a $48.00 price target (up previously from $40.00) on shares of Parsley Energy in a report on Saturday, April 22nd. FBR & Co set a $42.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Thursday, June 1st. Scotiabank set a $43.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Saturday, May 6th. UBS AG reissued a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Parsley Energy in a report on Friday, May 5th. Finally, BMO Capital Markets set a $40.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $40.44.

Shares of Parsley Energy (PE) traded up 3.24% during mid-day trading on Wednesday, hitting $26.12. The stock had a trading volume of 7,635,942 shares. The stock has a 50 day moving average price of $27.82 and a 200 day moving average price of $30.65. Parsley Energy has a 52 week low of $25.07 and a 52 week high of $39.82. The firm has a market cap of $6.42 billion, a PE ratio of 145.92 and a beta of -0.09.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.06. Parsley Energy had a return on equity of 2.06% 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 period last year, the firm posted $0.04 EPS. Parsley Energy’s quarterly revenue was up 99.9% on a year-over-year basis. Equities research analysts expect that Parsley Energy will post $0.58 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Parsley Energy, Inc. (NYSE:PE) Upgraded to Sell at BidaskClub” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/04/parsley-energy-inc-nysepe-upgraded-to-sell-at-bidaskclub.html.

In other Parsley Energy news, insider Ryan Dalton sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $32.56, for a total value of $976,800.00. Following the sale, the insider now owns 329,957 shares in the company, valued at approximately $10,743,399.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Colin Roberts sold 3,400 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.00, for a total value of $102,000.00. Following the completion of the sale, the insider now owns 229,326 shares in the company, valued at approximately $6,879,780. The disclosure for this sale can be found here. Insiders sold a total of 1,720,900 shares of company stock worth $54,100,050 in the last quarter. Corporate insiders own 15.51% of the company’s stock.

Several large investors have recently added to or reduced their stakes in PE. Quadrature Capital Ltd bought a new stake in Parsley Energy during the fourth quarter worth approximately $320,000. UBS Asset Management Americas Inc. raised its stake in Parsley Energy by 132.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 292,078 shares of the oil and natural gas company’s stock worth $10,291,000 after buying an additional 166,206 shares during the period. Creative Planning raised its stake in Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock worth $147,000 after buying an additional 4,425 shares during the period. Gulf International Bank UK Ltd raised its stake in Parsley Energy by 41.9% in the first quarter. Gulf International Bank UK Ltd now owns 67,142 shares of the oil and natural gas company’s stock worth $2,182,000 after buying an additional 19,842 shares during the period. Finally, Bank of Montreal Can raised its stake in Parsley Energy by 99.6% in the first quarter. Bank of Montreal Can now owns 155,539 shares of the oil and natural gas company’s stock worth $5,058,000 after buying an additional 77,602 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About Parsley Energy

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 & Stock 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 stocks with our FREE daily email newsletter.