Parsley Energy, Inc. (NYSE:PE) was downgraded by investment analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a research note issued on Monday, The Fly reports.

Several other equities research analysts have also recently weighed in on PE. UBS AG began coverage on Parsley Energy in a research report on Thursday, March 23rd. They set a “buy” rating and a $42.00 price target on the stock. Scotiabank set a $43.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Saturday, May 6th. Northland Securities reiterated a “buy” rating and set a $43.00 price target on shares of Parsley Energy in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a research report on Friday. Finally, BidaskClub upgraded Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and a consensus price target of $40.84.

Parsley Energy (NYSE PE) opened at 28.71 on Monday. The firm has a 50-day moving average of $29.06 and a 200 day moving average of $31.90. The company’s market capitalization is $7.08 billion. Parsley Energy has a 12-month low of $25.17 and a 12-month high of $39.82.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $181.23 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The company’s revenue was up 222.5% on a year-over-year basis. Analysts expect that Parsley Energy will post $0.64 EPS for the current fiscal year.

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In other Parsley Energy news, insider Ryan Dalton sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $32.56, for a total transaction of $976,800.00. Following the transaction, the insider now directly owns 329,957 shares in the company, valued at $10,743,399.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Colin Roberts sold 3,000 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $29.56, for a total transaction of $88,680.00. Following the transaction, the insider now owns 232,726 shares in the company, valued at $6,879,380.56. The disclosure for this sale can be found here. Insiders have sold 1,723,900 shares of company stock worth $54,188,730 over the last quarter. Company insiders own 15.51% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its position 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 worth $107,000 after buying an additional 251 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Parsley Energy during the first quarter worth approximately $133,000. Creative Planning boosted its position 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 worth $147,000 after buying an additional 4,425 shares during the last quarter. Fortaleza Asset Management Inc. boosted its position 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 worth $148,000 after buying an additional 1,520 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position 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 worth $153,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 91.60% 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.

The Fly

Analyst Recommendations for Parsley Energy (NYSE:PE)

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