Scotiabank restated their buy rating on shares of Parsley Energy, Inc. (NYSE:PE) in a research note released on Wednesday. Scotiabank currently has a $38.00 price target on the oil and natural gas company’s stock.

Several other equities analysts also recently weighed in on the company. Barclays PLC raised their price target on Parsley Energy from $32.00 to $35.00 and gave the stock an overweight rating in a research report on Monday, November 20th. J P Morgan Chase & Co lowered their price objective on Parsley Energy from $44.00 to $38.00 and set an overweight rating for the company in a research report on Wednesday, November 15th. BMO Capital Markets set a $35.00 price objective on Parsley Energy and gave the company a buy rating in a research report on Tuesday, November 14th. Royal Bank Of Canada reaffirmed an outperform rating and issued a $36.00 price objective (down previously from $37.00) on shares of Parsley Energy in a research report on Sunday, November 12th. Finally, Northland Securities reaffirmed a buy rating and issued a $40.00 price objective on shares of Parsley Energy in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $40.23.

Parsley Energy (NYSE:PE) opened at $26.97 on Wednesday. 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 capitalization of $8,343.83, a price-to-earnings ratio of 69.84 and a beta of -0.05. 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 quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company 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%. Parsley Energy’s revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. sell-side analysts forecast that Parsley Energy will post 0.48 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in Parsley Energy by 13.9% in the third quarter. Public Employees Retirement System of Ohio now owns 267,996 shares of the oil and natural gas company’s stock valued at $7,059,000 after acquiring an additional 32,731 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in Parsley Energy by 10.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 323,336 shares of the oil and natural gas company’s stock valued at $8,517,000 after acquiring an additional 31,205 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Parsley Energy in the third quarter valued at $209,000. California Public Employees Retirement System boosted its holdings in Parsley Energy by 1.6% in the third quarter. California Public Employees Retirement System now owns 443,500 shares of the oil and natural gas company’s stock valued at $11,682,000 after acquiring an additional 6,800 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Parsley Energy by 14.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,409 shares of the oil and natural gas company’s stock valued at $670,000 after acquiring an additional 3,254 shares during the last quarter. Hedge funds and other institutional investors own 78.70% of the company’s stock.

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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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