Parsley Energy, Inc. (PE) Price Target Lowered to $31.00 at Piper Jaffray Companies
Parsley Energy, Inc. (NYSE:PE) had its price target trimmed by Piper Jaffray Companies from $42.00 to $31.00 in a report released on Monday. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.
Several other equities analysts also recently weighed in on PE. BidaskClub downgraded Parsley Energy from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Northland Securities set a $43.00 target price on Parsley Energy and gave the company a buy rating in a research report on Monday, August 21st. Barclays PLC dropped their target price on Parsley Energy from $32.00 to $30.00 and set an overweight rating for the company in a research report on Tuesday, August 8th. Seaport Global Securities raised Parsley Energy from a neutral rating to a buy rating and lifted their target price for the company from $30.00 to $32.00 in a research report on Friday, August 11th. Finally, Citigroup Inc. set a $51.00 target price on Parsley Energy and gave the company a buy rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-one have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $40.22.
Shares of Parsley Energy (NYSE PE) opened at 25.61 on Monday. The company has a 50-day moving average of $25.32 and a 200-day moving average of $28.65. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 143.07 and a beta of -0.07. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $39.82.
Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). The firm had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business’s revenue was up 99.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, equities research analysts expect that Parsley Energy will post $0.50 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Parsley Energy by 3.2% during 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 purchasing an additional 597,682 shares during the last quarter. Apollo Management Holdings L.P. purchased a new stake in Parsley Energy during the second quarter worth approximately $414,418,000. BlackRock Inc. lifted its stake in Parsley Energy by 2.0% during 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 purchasing an additional 223,388 shares during the last quarter. FMR LLC lifted its stake in Parsley Energy by 40.2% during 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 purchasing an additional 2,893,045 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in Parsley Energy by 1.6% during 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 purchasing an additional 124,462 shares during the last quarter. Hedge funds and other institutional investors own 98.70% of the company’s stock.
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.
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