Parsley Energy, Inc. (PE) PT Set at $35.00 by BMO Capital Markets

BMO Capital Markets set a $35.00 target price 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.

PE has been the topic of a number of other research reports. Royal Bank Of Canada reaffirmed an outperform rating and set a $36.00 price target (down previously from $37.00) on shares of Parsley Energy in a research note on Sunday, November 12th. Northland Securities reissued a buy rating and issued a $40.00 target price on shares of Parsley Energy in a research note on Friday, November 10th. Imperial Capital lifted their price target on shares of Parsley Energy from $36.00 to $37.00 and gave the stock an outperform rating in a research note on Thursday, November 9th. Zacks Investment Research raised shares of Parsley Energy from a sell rating to a hold rating in a research note on Thursday, November 9th. Finally, Piper Jaffray Companies set a $34.00 price target on shares of Parsley Energy and gave the stock a buy rating in a research note on Monday, October 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $40.09.

Shares of Parsley Energy (NYSE:PE) opened at $25.45 on Tuesday. Parsley Energy has a 1 year low of $22.98 and a 1 year high of $39.82. The stock has a market cap of $7,850.00, a P/E ratio of 68.32, a P/E/G ratio of 2.91 and a beta of -0.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. During the same quarter last year, the business earned $0.05 earnings per share. Parsley Energy’s revenue was up 81.8% compared to the same quarter last year. analysts forecast that Parsley Energy will post 0.48 EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in PE. Advisor Group Inc. increased its position in shares of Parsley Energy by 23.9% in the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 781 shares in the last quarter. American International Group Inc. increased its position in shares of 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 worth $158,000 after acquiring an additional 180 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Parsley Energy by 15.8% in the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock worth $183,000 after acquiring an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Parsley Energy by 14.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock worth $193,000 after acquiring an additional 735 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Parsley Energy in the third quarter worth approximately $196,000. 78.49% 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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