Parsley Energy, Inc. (NYSE:PE) had its price objective trimmed by J P Morgan Chase & Co from $44.00 to $38.00 in a report released on Wednesday morning. The firm currently has an overweight rating on the oil and natural gas company’s stock.

PE has been the subject of several other reports. Northland Securities reissued a buy rating and issued a $40.00 price objective on shares of Parsley Energy in a research note on Friday, November 10th. ValuEngine downgraded Parsley Energy from a hold rating to a sell rating in a research note on Friday, September 1st. KeyCorp reissued a buy rating and issued a $39.00 price objective on shares of Parsley Energy in a research note on Tuesday, September 19th. Stifel Nicolaus set a $46.00 price objective on Parsley Energy and gave the company a buy rating in a research note on Thursday, October 5th. Finally, Piper Jaffray Companies reduced their price objective on Parsley Energy from $42.00 to $31.00 and set an overweight rating for the company in a research note on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $40.09.

Shares of Parsley Energy (PE) traded down $0.21 during mid-day trading on Wednesday, hitting $24.97. The stock had a trading volume of 3,721,690 shares, compared to its average volume of 4,926,283. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market cap of $7,850.00, a P/E ratio of 68.32, a price-to-earnings-growth ratio of 2.91 and a beta of -0.05. Parsley Energy has a twelve month low of $22.98 and a twelve month high of $39.82.

Parsley Energy (NYSE:PE) last announced 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 business had revenue of $241.02 million during the quarter, compared to the consensus estimate of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The business’s quarterly revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. research analysts forecast that Parsley Energy will post 0.48 EPS for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Parsley Energy by 3.2% during the 2nd 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 period. Boston Partners boosted its holdings in Parsley Energy by 19.3% during the 3rd quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock valued at $402,148,000 after acquiring an additional 2,466,399 shares during the period. Apollo Management Holdings L.P. purchased a new position in Parsley Energy during the 2nd quarter valued at about $414,418,000. BlackRock Inc. boosted its holdings in Parsley Energy by 2.0% during the 2nd quarter. BlackRock Inc. now owns 11,438,545 shares of the oil and natural gas company’s stock valued at $317,419,000 after acquiring an additional 223,388 shares during the period. Finally, FMR LLC boosted its holdings in Parsley Energy by 40.2% during the 2nd quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock valued at $280,034,000 after acquiring an additional 2,893,045 shares during the period. Institutional investors and hedge funds own 78.49% 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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