Stifel Nicolaus set a $46.00 target price on Parsley Energy, Inc. (NYSE:PE) in a research note published on Thursday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

PE has been the subject of several other reports. Citigroup Inc. set a $50.00 target price on Parsley Energy and gave the stock a buy rating in a research note on Friday, July 21st. Williams Capital raised Parsley Energy from a hold rating to a buy rating and reduced their price objective for the company from $39.00 to $37.00 in a research note on Monday, June 12th. Bank of America Corporation began coverage on Parsley Energy in a research note on Wednesday, July 19th. They issued a buy rating and a $37.00 price objective for the company. Zacks Investment Research downgraded Parsley Energy from a hold rating to a sell rating in a research note on Saturday, July 15th. Finally, Northland Securities set a $43.00 price objective on Parsley Energy and gave the company a buy rating in a research note on Monday, July 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Parsley Energy has a consensus rating of Buy and an average price target of $41.18.

Shares of Parsley Energy (NYSE:PE) traded down 1.78% during trading on Thursday, hitting $26.55. 5,944,225 shares of the stock traded hands. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 148.32 and a beta of -0.05. Parsley Energy has a 52-week low of $22.98 and a 52-week high of $39.82. The stock has a 50 day moving average of $25.49 and a 200 day moving average of $28.26.

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). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The company had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was up 99.9% compared to the same quarter last year. Analysts expect that Parsley Energy will post $0.48 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. raised its position in shares of Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 781 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Parsley Energy by 6.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 300 shares in the last quarter. American International Group Inc. raised its position in shares of Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Parsley Energy by 12.6% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 5,873 shares of the oil and natural gas company’s stock worth $191,000 after acquiring an additional 659 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after acquiring an additional 735 shares in the last quarter. 77.94% of the stock is currently owned by institutional investors and hedge funds.

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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