Parsley Energy (NYSE:PE)‘s stock had its “hold” rating reaffirmed by stock analysts at Williams Capital in a research report issued to clients and investors on Monday. They currently have a $22.00 price objective on the oil and natural gas company’s stock. Williams Capital’s price target suggests a potential upside of 24.65% from the company’s previous close.

Other research analysts also recently issued reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 price target on shares of Parsley Energy in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $46.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday, October 22nd. Jefferies Financial Group reissued a “buy” rating and set a $37.00 price objective on shares of Parsley Energy in a report on Tuesday, November 6th. Finally, SunTrust Banks set a $35.00 price objective on Parsley Energy and gave the stock a “buy” rating in a report on Tuesday, November 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.90.

NYSE PE traded up $0.01 during trading on Monday, hitting $17.65. The company’s stock had a trading volume of 70,313 shares, compared to its average volume of 4,818,534. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.35. The company has a market cap of $5.59 billion, a P/E ratio of 25.64, a P/E/G ratio of 0.50 and a beta of 0.41. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.43.

In related news, Director A R. Alameddine purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average price of $21.10 per share, with a total value of $105,500.00. Following the purchase, the director now directly owns 122,643 shares in the company, valued at $2,587,767.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders purchased 7,000 shares of company stock worth $145,490. 13.17% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Eagle Asset Management Inc. increased its holdings in Parsley Energy by 2,702.4% in the third quarter. Eagle Asset Management Inc. now owns 2,153,221 shares of the oil and natural gas company’s stock valued at $62,981,000 after purchasing an additional 2,076,385 shares during the last quarter. Carillon Tower Advisers Inc. boosted its position in Parsley Energy by 335.6% during the third quarter. Carillon Tower Advisers Inc. now owns 1,612,923 shares of the oil and natural gas company’s stock valued at $47,177,000 after purchasing an additional 1,242,648 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Parsley Energy by 20.1% during the second quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock valued at $208,786,000 after purchasing an additional 1,156,137 shares during the last quarter. Scout Investments Inc. acquired a new position in Parsley Energy during the fourth quarter valued at approximately $18,466,000. Finally, Mackenzie Financial Corp acquired a new position in Parsley Energy during the fourth quarter valued at approximately $17,535,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

About Parsley Energy

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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Analyst Recommendations for Parsley Energy (NYSE:PE)

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