Shares of Parsley Energy Inc (NYSE:PE) have been assigned an average rating of “Buy” from the twenty-eight research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.38.
PE has been the subject of several research analyst reports. Imperial Capital lifted their price objective on Parsley Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. JPMorgan Chase & Co. cut their price objective on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Barclays lifted their price objective on Parsley Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Citigroup cut their price objective on Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective (down previously from $37.00) on shares of Parsley Energy in a report on Sunday, November 12th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its position in Parsley Energy by 23.9% during the second quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 781 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Parsley Energy in the fourth quarter valued at about $128,000. American International Group Inc. purchased a new position in shares of Parsley Energy in the fourth quarter valued at about $155,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Parsley Energy in the third quarter valued at about $196,000. Finally, Trexquant Investment LP purchased a new position in shares of Parsley Energy in the third quarter valued at about $206,000. Institutional investors own 80.06% 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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