Parsley Energy (NYSE:PE) had its target price upped by Bank of America from $23.00 to $27.00 in a research report released on Tuesday, Briefing.com Automated Import reports. The firm currently has a buy rating on the oil and natural gas company’s stock.

Other analysts have also recently issued reports about the stock. Robert W. Baird set a $22.00 price target on shares of Parsley Energy and gave the stock a buy rating in a report on Thursday, June 27th. Wells Fargo & Co lifted their price target on shares of Parsley Energy from $28.00 to $33.00 and gave the company an outperform rating in a research report on Monday, August 12th. Zacks Investment Research lowered shares of Parsley Energy from a buy rating to a hold rating in a research report on Thursday, May 16th. Morgan Stanley set a $21.00 price target on shares of Parsley Energy and gave the company a hold rating in a research report on Monday, June 24th. Finally, MKM Partners started coverage on shares of Parsley Energy in a research report on Tuesday, August 27th. They set a buy rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $28.60.

Shares of Parsley Energy stock traded up $0.08 during trading hours on Tuesday, reaching $18.39. The company’s stock had a trading volume of 109,233 shares, compared to its average volume of 3,756,195. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Parsley Energy has a one year low of $13.72 and a one year high of $31.05. The company’s 50 day simple moving average is $16.51 and its 200 day simple moving average is $18.19. The stock has a market cap of $5.82 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.37 and a beta of 0.49.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $467.53 million. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The company’s revenue for the quarter was down 57.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, sell-side analysts predict that Parsley Energy will post 1.38 earnings per share for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 19th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Parsley Energy by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 24,613,756 shares of the oil and natural gas company’s stock worth $467,908,000 after purchasing an additional 306,322 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Parsley Energy by 1,349.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 19,366,848 shares of the oil and natural gas company’s stock worth $368,163,000 after acquiring an additional 18,030,770 shares in the last quarter. BlackRock Inc. raised its position in shares of Parsley Energy by 2.7% in the 2nd quarter. BlackRock Inc. now owns 13,546,873 shares of the oil and natural gas company’s stock worth $257,526,000 after acquiring an additional 354,766 shares in the last quarter. FMR LLC raised its position in shares of Parsley Energy by 7.2% in the 1st quarter. FMR LLC now owns 8,483,510 shares of the oil and natural gas company’s stock worth $163,731,000 after acquiring an additional 571,136 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Parsley Energy by 22.2% in the 2nd quarter. Victory Capital Management Inc. now owns 8,321,521 shares of the oil and natural gas company’s stock worth $158,192,000 after acquiring an additional 1,511,168 shares in the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

About Parsley Energy

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.

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Analyst Recommendations for Parsley Energy (NYSE:PE)

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