Barclays PLC set a $32.00 price target on Parsley Energy, Inc. (NYSE:PE) in a report published on Wednesday. The firm currently has a buy rating on the oil and natural gas company’s stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus reissued a buy rating and set a $46.00 price target on shares of Parsley Energy in a research report on Sunday, September 3rd. Citigroup Inc. set a $50.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research report on Friday, July 21st. ValuEngine downgraded shares of Parsley Energy from a hold rating to a sell rating in a research report on Friday, September 1st. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research report on Monday, August 21st. Finally, Wolfe Research began coverage on shares of Parsley Energy in a research report on Thursday, June 15th. They set an outperform rating and a $40.00 price target for the company. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $40.96.

Parsley Energy (NYSE PE) traded down 1.63% on Wednesday, reaching $26.52. 2,683,214 shares of the company’s stock traded hands. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82. The stock has a 50-day moving average of $25.72 and a 200 day moving average of $28.13. The firm has a market capitalization of $6.57 billion, a P/E ratio of 148.16 and a beta of -0.05.

Parsley Energy (NYSE:PE) last issued 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 Thomson Reuters’ consensus estimate of $0.11 by ($0.06). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The firm had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same period last year, the business earned $0.04 EPS. The firm’s revenue was up 99.9% compared to the same quarter last year. On average, equities analysts expect that Parsley Energy will post $0.48 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the business. BlueCrest Capital Management Ltd lifted its stake in Parsley Energy by 1.5% in the first quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock valued at $325,000 after buying an additional 143 shares during the last quarter. American International Group Inc. lifted its stake in Parsley Energy by 3.8% in the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after buying an additional 180 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares during the last quarter. Atria Investments LLC lifted its stake in Parsley Energy by 3.2% in the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after buying an additional 315 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Parsley Energy by 6.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after buying an additional 565 shares during the last quarter. Institutional investors own 77.94% of the company’s stock.

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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