Shares of Parsley Energy Inc (NYSE:PE) have earned a consensus recommendation of “Buy” from the twenty-six ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and twenty-three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $39.27.
A number of equities research analysts have weighed in on PE shares. Zacks Investment Research downgraded Parsley Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Credit Suisse Group started coverage on Parsley Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $32.00 target price on the stock. Citigroup reduced their target price on Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Northland Securities set a $36.00 target price on Parsley Energy and gave the company a “buy” rating in a report on Monday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, November 15th.
Shares of Parsley Energy (PE) opened at $30.15 on Wednesday. The firm has a market capitalization of $9,480.00, a price-to-earnings ratio of 430.71 and a beta of -0.05. Parsley Energy has a twelve month low of $22.98 and a twelve month high of $37.72. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Parsley Energy by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 19,016,423 shares of the oil and natural gas company’s stock valued at $527,706,000 after acquiring an additional 597,682 shares in the last quarter. Boston Partners raised its position in Parsley Energy by 19.3% during the 3rd quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock worth $402,148,000 after purchasing an additional 2,466,399 shares during the last quarter. Apollo Management Holdings L.P. bought a new position in Parsley Energy during the 2nd quarter worth $414,418,000. BlackRock Inc. raised its position in Parsley Energy by 2.0% during the 2nd quarter. BlackRock Inc. now owns 11,438,545 shares of the oil and natural gas company’s stock worth $317,419,000 after purchasing an additional 223,388 shares during the last quarter. Finally, FMR LLC raised its position in Parsley Energy by 40.2% during the 2nd quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock worth $280,034,000 after purchasing an additional 2,893,045 shares during the last quarter. 80.16% of the stock is currently owned by institutional investors.
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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