BMO Capital Markets Analysts Give Parsley Energy, Inc. (PE) a $35.00 Price Target
BMO Capital Markets set a $35.00 price target on Parsley Energy, Inc. (NYSE:PE) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the oil and natural gas company’s stock.
Several other brokerages also recently weighed in on PE. BidaskClub upgraded shares of Parsley Energy from a strong sell rating to a sell rating in a report on Wednesday, July 5th. Bank of America Corporation initiated coverage on shares of Parsley Energy in a report on Wednesday, July 19th. They issued a buy rating and a $37.00 price target on the stock. Scotiabank set a $38.00 price target on shares of Parsley Energy and gave the stock a buy rating in a report on Saturday, July 1st. Stifel Nicolaus reiterated a buy rating and issued a $39.00 price target on shares of Parsley Energy in a report on Friday, July 14th. Finally, Williams Capital set a $39.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $41.00.
Shares of Parsley Energy (NYSE:PE) traded down 0.34% during mid-day trading on Tuesday, reaching $26.43. 4,757,293 shares of the company traded hands. Parsley Energy has a 52 week low of $22.98 and a 52 week high of $39.82. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 147.65 and a beta of -0.05. The firm has a 50-day moving average price of $25.80 and a 200 day moving average price of $28.09.
Parsley Energy (NYSE:PE) last issued its quarterly 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). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same quarter last year, the company posted $0.04 EPS. Parsley Energy’s quarterly revenue was up 99.9% compared to the same quarter last year. On average, analysts anticipate that Parsley Energy will post $0.48 earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in PE. Apollo Management Holdings L.P. purchased a new position in Parsley Energy in the 2nd quarter valued at $414,418,000. BlackRock Inc. lifted its holdings 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 valued at $364,606,000 after purchasing an additional 11,044,492 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 valued at $598,793,000 after purchasing an additional 5,913,072 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 valued at $201,586,000 after purchasing an additional 5,194,292 shares in the last quarter. Finally, FMR LLC lifted its holdings 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 valued at $280,034,000 after purchasing an additional 2,893,045 shares in the last quarter. 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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