Mizuho upgraded shares of Parsley Energy (NYSE:PE) from a neutral rating to a buy rating in a research report sent to investors on Monday, The Fly reports. Mizuho currently has $24.00 price objective on the oil and natural gas company’s stock.

PE has been the subject of several other research reports. TD Securities increased their target price on shares of Parsley Energy from $25.00 to $26.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Morgan Stanley set a $21.00 target price on shares of Parsley Energy and gave the company a hold rating in a research note on Monday, June 24th. Bank of America increased their target price on shares of Parsley Energy from $23.00 to $27.00 and gave the company a buy rating in a research note on Tuesday, September 10th. ValuEngine upgraded shares of Parsley Energy from a strong sell rating to a sell rating in a research note on Monday, August 26th. Finally, MKM Partners began coverage on shares of Parsley Energy in a research note on Tuesday, August 27th. They issued a buy rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $28.84.

NYSE PE opened at $18.98 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a 50-day simple moving average of $16.83 and a 200 day simple moving average of $18.19. Parsley Energy has a twelve month low of $13.72 and a twelve month high of $31.05. The stock has a market cap of $5.86 billion, a PE ratio of 13.46, a PEG ratio of 0.37 and a beta of 0.48.

Parsley Energy (NYSE:PE) last released its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was down 57.6% on a year-over-year basis. Research analysts forecast that Parsley Energy will post 1.38 earnings per share for the current fiscal year.

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

Large investors have recently bought and sold shares of the stock. River & Mercantile Asset Management LLP acquired a new stake in shares of Parsley Energy during the second quarter worth approximately $29,000. Quantamental Technologies LLC acquired a new stake in shares of Parsley Energy during the second quarter worth approximately $53,000. Nisa Investment Advisors LLC acquired a new stake in shares of Parsley Energy during the second quarter worth approximately $76,000. Machina Capital S.A.S. acquired a new stake in shares of Parsley Energy during the second quarter worth approximately $86,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Parsley Energy by 22.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock worth $98,000 after buying an additional 958 shares in the last quarter. 82.62% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: How is a management fee different from a performance fee?

The Fly

Analyst Recommendations for Parsley Energy (NYSE:PE)

Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.