Williams Capital set a $39.00 target price on Parsley Energy, Inc. (NYSE:PE) in a research report report published on Thursday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup Inc. set a $50.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research note on Friday, July 21st. FBR & Co set a $42.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research note on Thursday, June 1st. Northland Securities set a $43.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research note on Monday, July 17th. Wolfe Research initiated coverage on shares of Parsley Energy in a research note on Thursday, June 15th. They issued an outperform rating and a $40.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Parsley Energy from a hold rating to a sell rating in a research note on Saturday, July 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Parsley Energy has a consensus rating of Buy and a consensus price target of $40.44.

Shares of Parsley Energy (PE) traded up 3.24% on Thursday, hitting $26.12. The stock had a trading volume of 7,636,668 shares. Parsley Energy has a 52-week low of $25.07 and a 52-week high of $39.82. The company has a 50-day moving average of $27.82 and a 200-day moving average of $30.65. The company has a market cap of $6.42 billion, a P/E ratio of 145.92 and a beta of -0.09.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.06. The firm had revenue of $213.68 million during 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 2.06%. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, equities analysts anticipate that Parsley Energy will post $0.58 EPS for the current fiscal year.

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In other news, insider Colin Roberts sold 3,400 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $102,000.00. Following the sale, the insider now directly owns 229,326 shares of the company’s stock, valued at $6,879,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bryan Sheffield sold 1,687,500 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $31.42, for a total transaction of $53,021,250.00. Following the sale, the insider now directly owns 12,059,224 shares in the company, valued at $378,900,818.08. The disclosure for this sale can be found here. Insiders have sold 1,720,900 shares of company stock worth $54,100,050 over the last three months. Corporate insiders own 15.51% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Parsley Energy by 47.3% in the first 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 last quarter. BlackRock Inc. increased its position in shares of Parsley Energy by 6,471.4% in the first 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. TIAA CREF Investment Management LLC increased its position in shares of Parsley Energy by 18.3% in the first quarter. TIAA CREF Investment Management LLC now owns 7,989,401 shares of the oil and natural gas company’s stock worth $259,735,000 after buying an additional 1,238,201 shares during the period. Wellington Management Group LLP increased its position in shares of Parsley Energy by 27.5% in the first quarter. Wellington Management Group LLP now owns 7,344,323 shares of the oil and natural gas company’s stock worth $238,765,000 after buying an additional 1,583,529 shares during the period. Finally, FMR LLC increased its position in shares of Parsley Energy by 29.7% in the first quarter. FMR LLC now owns 7,198,268 shares of the oil and natural gas company’s stock worth $234,016,000 after buying an additional 1,649,919 shares during the period. 91.64% of the stock is currently 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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