Analysts at Stephens began coverage on shares of Parsley Energy (NYSE:PE) in a report released on Thursday, MarketBeat reports. The firm set an “equal weight” rating and a $31.00 price target on the oil and natural gas company’s stock. Stephens’ price target points to a potential upside of 62.39% from the stock’s current price.

Several other research firms have also recently weighed in on PE. ValuEngine cut shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, December 1st. Cowen started coverage on shares of Parsley Energy in a report on Thursday, November 29th. They issued an “outperform” rating and a $27.00 price target on the stock. SunTrust Banks set a $35.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a report on Tuesday, November 27th. Goldman Sachs Group raised shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, November 27th. Finally, Morgan Stanley decreased their price target on shares of Parsley Energy from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Parsley Energy presently has an average rating of “Buy” and an average price target of $37.00.

Shares of PE stock opened at $19.09 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35. Parsley Energy has a 1 year low of $18.31 and a 1 year high of $33.43. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 0.41 and a beta of -0.16.

Parsley Energy (NYSE:PE) last issued its earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. Parsley Energy had a net margin of 21.70% and a return on equity of 6.77%. The business had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $493.44 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was up 112.0% compared to the same quarter last year. As a group, sell-side analysts expect that Parsley Energy will post 1.65 EPS for the current fiscal year.

In other Parsley Energy news, Director A R. Alameddine purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was acquired at an average cost of $21.10 per share, for a total transaction of $105,500.00. Following the completion of the transaction, the director now directly owns 122,643 shares in the company, valued at approximately $2,587,767.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 7,000 shares of company stock valued at $145,490 over the last quarter. 13.17% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in shares of Parsley Energy by 487.2% during the second quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock valued at $124,000 after acquiring an additional 3,376 shares during the last quarter. Brasada Capital Management LP bought a new position in shares of Parsley Energy during the third quarter valued at about $219,000. Nordea Investment Management AB raised its stake in shares of Parsley Energy by 64.6% during the third quarter. Nordea Investment Management AB now owns 9,540 shares of the oil and natural gas company’s stock valued at $279,000 after acquiring an additional 3,745 shares during the last quarter. People s United Financial Inc. bought a new position in shares of Parsley Energy during the second quarter valued at about $315,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Parsley Energy during the second quarter valued at about $321,000. Institutional investors and hedge funds own 83.02% of the company’s stock.

About Parsley Energy

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

Featured Article: Using the New Google Finance Tool

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.