Parsley Energy, Inc. (NYSE:PE) had its price objective lowered by Piper Jaffray Companies from $42.00 to $31.00 in a research note released on Monday. The brokerage currently has an overweight rating on the oil and natural gas company’s stock.

A number of other equities research analysts have also weighed in on PE. Citigroup Inc. set a $50.00 target price on shares of Parsley Energy and gave the stock a buy rating in a report on Friday, July 21st. Williams Capital raised shares of Parsley Energy from a hold rating to a buy rating and reduced their target price for the stock from $39.00 to $37.00 in a report on Monday, June 12th. Bank of America Corporation assumed coverage on shares of Parsley Energy in a report on Wednesday, July 19th. They set a buy rating and a $37.00 target price on the stock. Zacks Investment Research lowered shares of Parsley Energy from a hold rating to a sell rating in a report on Saturday, July 15th. Finally, Northland Securities set a $43.00 target price on shares of Parsley Energy and gave the stock a buy rating in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $40.00.

Shares of Parsley Energy (NYSE PE) opened at 26.41 on Monday. The stock’s 50 day moving average is $25.20 and its 200 day moving average is $28.60. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $39.82. The company has a market capitalization of $6.54 billion, a PE ratio of 147.54 and a beta of -0.07.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). The company had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. Parsley Energy’s revenue for the quarter was up 99.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that Parsley Energy will post $0.50 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd boosted its stake in Parsley Energy by 1.5% during the first quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock worth $325,000 after acquiring an additional 143 shares in the last quarter. American International Group Inc. boosted its stake in Parsley Energy by 3.8% during the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after acquiring an additional 180 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Parsley Energy by 6.8% during the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after acquiring an additional 300 shares in the last quarter. Atria Investments LLC boosted its stake in Parsley Energy by 3.2% during the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock worth $281,000 after acquiring an additional 315 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Parsley Energy by 2.6% during the first quarter. US Bancorp DE now owns 18,180 shares of the oil and natural gas company’s stock worth $591,000 after acquiring an additional 463 shares in the last quarter. 98.70% of the stock is currently owned by institutional investors and hedge funds.

About Parsley Energy

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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