Parsley Energy’s (PE) “Buy” Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Parsley Energy (NYSE:PE) in a report released on Tuesday morning. Piper Jaffray Companies currently has a $41.00 price objective on the oil and natural gas company’s stock.

A number of other analysts have also commented on the company. Zacks Investment Research lowered Parsley Energy from a hold rating to a sell rating in a research note on Wednesday, October 11th. Credit Suisse Group initiated coverage on Parsley Energy in a research note on Monday, December 11th. They set an outperform rating and a $32.00 price objective on the stock. Citigroup decreased their price target on Parsley Energy from $51.00 to $49.00 and set a buy rating on the stock in a research note on Friday, October 13th. Northland Securities set a $36.00 price target on Parsley Energy and gave the stock a buy rating in a research note on Monday, December 11th. Finally, JPMorgan Chase & Co. decreased their price target on Parsley Energy from $44.00 to $38.00 and set an overweight rating on the stock in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $39.27.

Parsley Energy (NYSE:PE) traded down $0.84 on Tuesday, hitting $29.31. The company had a trading volume of 3,225,300 shares, compared to its average volume of 3,370,000. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $9,210.00, a price-to-earnings ratio of 418.71 and a beta of -0.05. Parsley Energy has a fifty-two week low of $22.98 and a fifty-two week high of $37.72.

Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. research analysts forecast that Parsley Energy will post 0.5 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Parsley Energy by 15.0% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock worth $1,738,000 after purchasing an additional 8,593 shares during the period. King Luther Capital Management Corp raised its holdings in shares of Parsley Energy by 53.7% in the 3rd quarter. King Luther Capital Management Corp now owns 100,036 shares of the oil and natural gas company’s stock worth $2,635,000 after purchasing an additional 34,930 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Parsley Energy by 263.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock worth $64,805,000 after purchasing an additional 1,692,425 shares during the period. Swiss National Bank raised its holdings in shares of Parsley Energy by 0.8% in the 3rd quarter. Swiss National Bank now owns 815,600 shares of the oil and natural gas company’s stock worth $21,483,000 after purchasing an additional 6,600 shares during the period. Finally, L & S Advisors Inc purchased a new position in shares of Parsley Energy in the 3rd quarter worth about $5,589,000. Institutional investors own 80.16% of the company’s stock.

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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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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