Royal Bank Of Canada Reaffirms “Outperform” Rating for Parsley Energy, Inc. (PE)
Royal Bank Of Canada reissued their outperform rating on shares of Parsley Energy, Inc. (NYSE:PE) in a research report released on Sunday, MarketBeat reports. The firm currently has a $36.00 price objective on the oil and natural gas company’s stock, down from their prior price objective of $37.00.
Several other equities research analysts have also weighed in on the stock. Northland Securities reiterated a buy rating and issued a $40.00 target price on shares of Parsley Energy in a report on Friday, November 10th. Imperial Capital increased their target price on shares of Parsley Energy from $36.00 to $37.00 and gave the stock an outperform rating in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Parsley Energy from a sell rating to a hold rating in a report on Thursday, November 9th. Piper Jaffray Companies set a $34.00 target price on shares of Parsley Energy and gave the stock a buy rating in a report on Monday, October 23rd. Finally, Williams Capital cut their target price on shares of Parsley Energy from $36.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $40.36.
Parsley Energy (NYSE PE) opened at $25.96 on Friday. Parsley Energy has a twelve month low of $22.98 and a twelve month high of $39.82. The firm has a market cap of $8,416.43, a P/E ratio of 70.45, a P/E/G ratio of 3.01 and a beta of -0.05. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.
Parsley Energy (NYSE:PE) last posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The company had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period last year, the business posted $0.05 earnings per share. equities analysts predict that Parsley Energy will post 0.48 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in PE. Advisor Group Inc. grew its position in 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 purchasing an additional 781 shares in the last quarter. American International Group Inc. grew its position in Parsley Energy by 3.8% in the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after purchasing an additional 180 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Parsley Energy by 15.8% in the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after purchasing an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Parsley Energy by 14.1% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after acquiring an additional 735 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Parsley Energy in the 3rd quarter valued at about $196,000. 78.49% of the stock is owned by institutional investors and hedge funds.
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.
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