Parsley Energy, Inc. (NYSE:PE) has been assigned a $51.00 price target by research analysts at Citigroup Inc. in a research note issued on Tuesday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Citigroup Inc.’s target price points to a potential upside of 107.65% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank set a $38.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. FBR & Co reissued a “buy” rating on shares of Parsley Energy in a research report on Monday, May 15th. 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 research report on Friday, May 5th. Barclays PLC dropped their price target on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.65.

Parsley Energy (NYSE:PE) opened at 24.56 on Tuesday. The company has a market cap of $6.08 billion, a P/E ratio of 137.21 and a beta of -0.09. The stock’s 50 day moving average is $27.40 and its 200 day moving average is $29.85. Parsley Energy has a 1-year low of $24.25 and a 1-year high of $39.82.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. During the same period last year, the company posted $0.04 EPS. Parsley Energy’s revenue for the quarter was up 99.9% on a year-over-year basis. Equities analysts anticipate that Parsley Energy will post $0.52 earnings per share for the current fiscal year.

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In related news, insider Colin Roberts sold 3,400 shares of the 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 transaction, the insider now directly owns 229,326 shares in the company, valued at approximately $6,879,780. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.51% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Advisor Group Inc. increased its stake in shares of Parsley Energy by 23.9% in 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 buying an additional 781 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Parsley Energy during the first quarter valued at approximately $133,000. Creative Planning increased its stake in shares of 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 valued at $147,000 after buying an additional 4,425 shares during the period. Fortaleza Asset Management Inc. increased its stake in shares of Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock valued at $148,000 after buying an additional 1,520 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares during the period. 91.86% of the stock is currently owned by institutional investors.

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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