Shares of Parsley Energy Inc. (NYSE:PE) reached a new 52-week high on Monday . The company traded as high as $28.10 and last traded at $27.71, with a volume of 1,354,757 shares. The stock had previously closed at $27.38.

A number of research firms have recently weighed in on PE. Wells Fargo & Co. reiterated a “hold” rating on shares of Parsley Energy in a report on Saturday, June 4th. Canaccord Genuity reissued a “buy” rating and issued a $29.00 price target on shares of Parsley Energy in a research note on Thursday, May 5th. Deutsche Bank AG reissued a “buy” rating and issued a $26.00 price target on shares of Parsley Energy in a research note on Wednesday, April 6th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Thursday, June 30th. Finally, Raymond James Financial Inc. raised shares of Parsley Energy from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $31.00 to $33.00 in a research note on Thursday, May 5th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $26.04.

The firm has a 50-day moving average of $26.41 and a 200 day moving average of $21.71. The firm’s market cap is $4.35 billion.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. The business earned $62.30 million during the quarter, compared to analysts’ expectations of $75.16 million. Parsley Energy’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) EPS. On average, equities analysts forecast that Parsley Energy Inc. will post ($0.02) earnings per share for the current fiscal year.

In other Parsley Energy news, insider Brad C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $25.42, for a total transaction of $254,200.00. Following the transaction, the insider now owns 44,100 shares in the company, valued at approximately $1,121,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mike Hinson sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $23.69, for a total transaction of $592,250.00. Following the transaction, the vice president now owns 796,653 shares in the company, valued at approximately $18,872,709.57. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently modified their holdings of PE. Dimensional Fund Advisors LP raised its position in shares of Parsley Energy by 120.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,726,439 shares of the company’s stock worth $31,850,000 after buying an additional 941,531 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Parsley Energy during the fourth quarter worth about $1,992,000. US Bancorp DE raised its position in shares of Parsley Energy by 50.7% in the fourth quarter. US Bancorp DE now owns 108,252 shares of the company’s stock worth $1,997,000 after buying an additional 36,401 shares during the last quarter. Marshall Wace LLP raised its position in shares of Parsley Energy by 26.8% in the fourth quarter. Marshall Wace LLP now owns 233,199 shares of the company’s stock worth $4,303,000 after buying an additional 49,297 shares during the last quarter. Finally, Monarch Partners Asset Management LLC raised its position in shares of Parsley Energy by 54.0% in the fourth quarter. Monarch Partners Asset Management LLC now owns 585,154 shares of the company’s stock worth $10,796,000 after buying an additional 205,251 shares during the last quarter.

Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.