Parsley Energy, Inc. (NYSE:PE) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities analysts have also recently issued reports on PE. BMO Capital Markets set a $40.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, May 4th. UBS AG reiterated a “buy” rating and issued a $44.00 price target (up previously from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. FBR & Co reiterated a “buy” rating on shares of Parsley Energy in a research note on Friday, May 5th. Scotiabank set a $43.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Saturday, May 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $45.00 target price on shares of Parsley Energy in a research report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $40.64.

Shares of Parsley Energy (PE) opened at 25.25 on Friday. The stock has a 50 day moving average of $26.48 and a 200 day moving average of $29.12. Parsley Energy has a one year low of $23.87 and a one year high of $39.82. The stock has a market cap of $6.25 billion, a P/E ratio of 141.06 and a beta of -0.05.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results 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. The firm had revenue of $213.68 million during the quarter, compared to the consensus estimate of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 EPS. On average, analysts forecast that Parsley Energy will post $0.49 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in PE. Vanguard Group Inc. increased its position in shares of Parsley Energy by 3.2% in the second quarter. Vanguard Group Inc. now owns 19,016,423 shares of the oil and natural gas company’s stock worth $527,706,000 after buying an additional 597,682 shares during the period. Apollo Management Holdings L.P. bought a new position in shares of Parsley Energy during the second quarter worth about $414,418,000. BlackRock Inc. increased its position in shares of Parsley Energy by 2.0% in the second quarter. BlackRock Inc. now owns 11,438,545 shares of the oil and natural gas company’s stock worth $317,419,000 after buying an additional 223,388 shares during the period. FMR LLC increased its position in shares of Parsley Energy by 40.2% in the second quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock worth $280,034,000 after buying an additional 2,893,045 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Parsley Energy by 1.6% in the second quarter. TIAA CREF Investment Management LLC now owns 8,113,863 shares of the oil and natural gas company’s stock worth $225,160,000 after buying an additional 124,462 shares during the period. Institutional investors own 98.70% 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)

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