Parsley Energy (PE) Research Coverage Started at UBS Group
UBS Group assumed coverage on shares of Parsley Energy (NYSE:PE) in a research note released on Wednesday, www.benzinga.com reports. The firm issued a buy rating and a $35.00 price target on the oil and natural gas company’s stock.
Several other research analysts also recently weighed in on the company. Credit Suisse Group started coverage on Parsley Energy in a report on Monday, December 11th. They issued an outperform rating and a $32.00 price target for the company. Piper Jaffray Companies reiterated a buy rating and issued a $41.00 price target on shares of Parsley Energy in a report on Tuesday, January 9th. ValuEngine downgraded Parsley Energy from a hold rating to a sell rating in a report on Sunday, December 31st. Northland Securities set a $36.00 price target on Parsley Energy and gave the company a buy rating in a report on Monday, December 11th. Finally, JPMorgan Chase & Co. cut their price target on Parsley Energy from $44.00 to $38.00 and set an overweight rating for the company in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $35.83.
Parsley Energy (PE) opened at $26.80 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $8,425.60, a price-to-earnings ratio of 65.37, a price-to-earnings-growth ratio of 1.21 and a beta of -0.39. Parsley Energy has a twelve month low of $21.12 and a twelve month high of $33.07.
In other Parsley Energy news, Director Ron Brokmeyer purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $25.66 per share, with a total value of $51,320.00. Following the transaction, the director now owns 112,128 shares in the company, valued at $2,877,204.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bryan Sheffield purchased 189,500 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $26.34 per share, with a total value of $4,991,430.00. Following the completion of the transaction, the insider now owns 11,533,063 shares in the company, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. 15.51% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its position in Parsley Energy by 13.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock worth $228,000 after purchasing an additional 945 shares during the period. Amalgamated Bank boosted its position in Parsley Energy by 5.5% during the 3rd quarter. Amalgamated Bank now owns 42,989 shares of the oil and natural gas company’s stock worth $1,132,000 after purchasing an additional 2,258 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Parsley Energy by 8.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 29,229 shares of the oil and natural gas company’s stock worth $861,000 after purchasing an additional 2,368 shares during the period. State of Wisconsin Investment Board boosted its position in Parsley Energy by 0.4% during the 3rd quarter. State of Wisconsin Investment Board now owns 625,041 shares of the oil and natural gas company’s stock worth $16,464,000 after purchasing an additional 2,673 shares during the period. Finally, Pictet Asset Management Ltd. boosted its position in Parsley Energy by 3.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 77,300 shares of the oil and natural gas company’s stock worth $2,036,000 after purchasing an additional 2,700 shares during the period. 82.04% of the stock is owned by hedge funds and other institutional investors.
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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