Zacks Investment Research upgraded shares of Parsley Energy, Inc. (NYSE:PE) from a sell rating to a hold rating in a report published on Thursday.

According to Zacks, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas. “

Several other research analysts have also recently commented on the stock. Piper Jaffray Companies set a $34.00 price target on shares of Parsley Energy and gave the stock a buy rating in a report on Monday, October 23rd. Williams Capital reduced their price objective on shares of Parsley Energy from $36.00 to $33.00 and set a buy rating for the company in a research report on Wednesday, October 18th. Citigroup Inc. reduced their price objective on shares of Parsley Energy from $51.00 to $49.00 and set a buy rating for the company in a research report on Friday, October 13th. Barclays PLC set a $32.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research report on Wednesday, October 11th. Finally, BMO Capital Markets set a $35.00 price objective on shares of Parsley Energy and gave the stock a buy rating in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $40.36.

Parsley Energy (NYSE:PE) traded down $0.01 during midday trading on Thursday, reaching $27.18. 4,536,800 shares of the company’s stock traded hands, compared to its average volume of 5,695,913. The company has a quick ratio of 1.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82. The firm has a market cap of $8,545.34, a PE ratio of 71.53, a PEG ratio of 3.16 and a beta of -0.05.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The company had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. During the same quarter in the previous year, the business posted $0.05 EPS. The firm’s revenue was up 81.8% on a year-over-year basis. sell-side analysts predict that Parsley Energy will post 0.47 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the business. Advisor Group Inc. raised its position in Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 781 shares during the last quarter. American International Group Inc. raised its position in Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after buying an additional 180 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after buying an additional 735 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after buying an additional 900 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Parsley Energy during the 3rd quarter worth $196,000. Institutional investors own 77.65% 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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Analyst Recommendations for Parsley Energy (NYSE:PE)

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