Parsley Energy’s (NYSE:PE) Buy Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Parsley Energy (NYSE:PE) in a research note published on Tuesday, January 9th. Piper Jaffray Companies currently has a $41.00 price objective on the oil and natural gas company’s stock.

A number of other research analysts also recently commented on the company. ValuEngine downgraded Parsley Energy from a hold rating to a sell rating in a report on Sunday, December 31st. Robert W. Baird began coverage on Parsley Energy in a research report on Tuesday, December 19th. They issued an outperform rating and a $33.00 target price on the stock. Credit Suisse Group began coverage on Parsley Energy in a research note on Monday, December 11th. They set an outperform rating and a $32.00 price target for the company. Northland Securities set a $36.00 price target on Parsley Energy and gave the company a buy rating in a research note on Monday, December 11th. Finally, Scotiabank reissued a buy rating and set a $38.00 price objective on shares of Parsley Energy in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $38.76.

Shares of Parsley Energy (NYSE:PE) traded down $0.01 on Tuesday, hitting $29.11. The stock had a trading volume of 9,206,600 shares, compared to its average volume of 4,974,433. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market cap of $9,020.00, a PE ratio of 415.86, a PEG ratio of 1.52 and a beta of -0.05. Parsley Energy has a fifty-two week low of $22.98 and a fifty-two week high of $37.72.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. research analysts forecast that Parsley Energy will post 0.5 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Apollo Management Holdings L.P. bought a new stake in shares of Parsley Energy during the 2nd quarter valued at $414,418,000. Point72 Asset Management L.P. grew its holdings in shares of Parsley Energy by 164.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,709,178 shares of the oil and natural gas company’s stock valued at $150,380,000 after buying an additional 3,549,307 shares during the period. FMR LLC grew its holdings in shares of 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 buying an additional 2,893,045 shares during the period. Boston Partners grew its holdings in shares of Parsley Energy by 19.3% in the 3rd quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock valued at $402,148,000 after buying an additional 2,466,399 shares during the period. Finally, Third Point LLC grew its holdings in shares of Parsley Energy by 80.0% in the 2nd quarter. Third Point LLC now owns 4,500,000 shares of the oil and natural gas company’s stock valued at $124,875,000 after buying an additional 2,000,000 shares during the period. Institutional investors own 80.16% of the company’s stock.

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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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