Parsley Energy, Inc. (NYSE:PE) received a $32.00 price target from stock analysts at Barclays PLC in a report released on Wednesday. The firm presently has a “buy” rating on the oil and natural gas company’s stock. Barclays PLC’s price target points to a potential upside of 20.66% from the company’s current price.
Several other equities analysts have also recently weighed in on PE. Wolfe Research began coverage on shares of Parsley Energy in a research note on Thursday, June 15th. They set an “outperform” rating and a $40.00 target price for the company. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Parsley Energy in a research report on Friday, June 16th. BMO Capital Markets set a $35.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, June 26th. Scotiabank set a $38.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, BidaskClub upgraded shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the stock. Parsley Energy has a consensus rating of “Buy” and a consensus price target of $41.09.
Shares of Parsley Energy (NYSE:PE) opened at 26.52 on Wednesday. The company has a market capitalization of $6.57 billion, a P/E ratio of 148.16 and a beta of -0.05. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82. The stock’s 50 day moving average is $25.76 and its 200-day moving average is $28.12.
Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). The company had revenue of $213.68 million for the quarter, compared to analysts’ expectations of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business’s revenue was up 99.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 earnings per share. Analysts anticipate that Parsley Energy will post $0.48 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. Apollo Management Holdings L.P. purchased a new position in Parsley Energy in the 2nd quarter worth about $414,418,000. BlackRock Inc. increased its stake in Parsley Energy by 6,471.4% in the 1st quarter. BlackRock Inc. now owns 11,215,157 shares of the oil and natural gas company’s stock worth $364,606,000 after buying an additional 11,044,492 shares during the period. Vanguard Group Inc. increased its stake in Parsley Energy by 47.3% in the 1st quarter. Vanguard Group Inc. now owns 18,418,741 shares of the oil and natural gas company’s stock worth $598,793,000 after buying an additional 5,913,072 shares during the period. Victory Capital Management Inc. increased its stake in Parsley Energy by 250.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,264,371 shares of the oil and natural gas company’s stock worth $201,586,000 after buying an additional 5,194,292 shares during the period. Finally, FMR LLC increased its stake in Parsley Energy by 40.2% in the 2nd quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock worth $280,034,000 after buying an additional 2,893,045 shares during the period. Hedge funds and other institutional investors own 77.94% 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.
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