Parsley Energy, Inc. (PE) Receives “Buy” Rating from Scotiabank
Parsley Energy, Inc. (NYSE:PE)‘s stock had its “buy” rating reissued by research analysts at Scotiabank in a research note issued on Wednesday. They currently have a $38.00 target price on the oil and natural gas company’s stock. Scotiabank’s price target indicates a potential upside of 44.32% from the stock’s current price.
Several other research firms also recently commented on PE. BidaskClub downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Northland Securities set a $43.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Monday, August 21st. Citigroup Inc. set a $51.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, August 15th. Imperial Capital started coverage on shares of Parsley Energy in a report on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Seaport Global Securities raised shares of Parsley Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a research report on Friday, August 11th. Two 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.23.
Parsley Energy (PE) opened at $26.33 on Wednesday. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82. The stock has a market cap of $8,120.62, a PE ratio of 67.97 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 released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. During the same period last year, the business earned $0.05 EPS. Parsley Energy’s revenue was up 81.8% compared to the same quarter last year. equities analysts anticipate that Parsley Energy will post 0.47 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of the company. Spot Trading L.L.C. acquired a new stake in Parsley Energy during the 1st quarter valued at approximately $565,000. American International Group Inc. raised its stake in Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after acquiring an additional 180 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after acquiring an additional 735 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Parsley Energy by 539.7% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 36,014 shares of the oil and natural gas company’s stock valued at $999,000 after purchasing an additional 30,384 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Parsley Energy by 2,252.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,000 shares of the oil and natural gas company’s stock valued at $335,000 after purchasing an additional 11,490 shares during the period. Institutional investors and hedge funds own 78.70% 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.
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