BidaskClub cut shares of Parsley Energy, Inc. (NYSE:PE) from a sell rating to a strong sell rating in a research report sent to investors on Thursday.

Other research analysts also recently issued research reports about the company. Citigroup Inc. reaffirmed a buy rating and issued a $48.00 price target (up previously from $40.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. FBR & Co set a $42.00 price target on Parsley Energy and gave the company a buy rating in a research note on Thursday, June 1st. Scotiabank set a $43.00 price target on Parsley Energy and gave the company a buy rating in a research note on Saturday, May 6th. UBS AG reaffirmed a buy rating and issued a $44.00 price target (up previously from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. Finally, BMO Capital Markets set a $40.00 price target on Parsley Energy and gave the company a buy rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $40.37.

Parsley Energy (NYSE:PE) traded down 0.594% during midday trading on Thursday, hitting $29.295. 2,925,197 shares of the stock traded hands. Parsley Energy has a 12-month low of $25.17 and a 12-month high of $39.82. The firm’s 50 day moving average is $27.74 and its 200-day moving average is $30.83. The stock’s market capitalization is $7.22 billion.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. The business had revenue of $200.90 million during the quarter, compared to the consensus estimate of $181.23 million. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. Parsley Energy’s revenue for the quarter was up 222.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. On average, analysts anticipate that Parsley Energy will post $0.58 EPS for the current fiscal year.

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In related news, insider Colin Roberts sold 3,400 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $30.00, for a total value of $102,000.00. Following the sale, the insider now directly owns 229,326 shares in the company, valued at $6,879,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan Dalton sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $32.56, for a total value of $976,800.00. Following the completion of the sale, the insider now owns 329,957 shares in the company, valued at $10,743,399.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,720,900 shares of company stock worth $54,100,050. Company insiders own 15.51% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Parsley Energy by 9.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,043 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 251 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Parsley Energy during the first quarter valued at approximately $133,000. Creative Planning boosted its stake in shares of Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock valued at $147,000 after buying an additional 4,425 shares during the last quarter. Fortaleza Asset Management Inc. boosted its stake in shares of Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock valued at $148,000 after buying an additional 1,520 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.64% 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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