Royal Bank Of Canada Reiterates Outperform Rating for Parsley Energy, Inc. (PE)

Parsley Energy, Inc. (NYSE:PE)‘s stock had its “outperform” rating restated by research analysts at Royal Bank Of Canada in a report issued on Sunday. They currently have a $36.00 target price on the oil and natural gas company’s stock, down from their prior target price of $37.00. Royal Bank Of Canada’s price target would suggest a potential upside of 32.45% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Northland Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Parsley Energy in a research report on Friday. Imperial Capital upped their price target on shares of Parsley Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies set a $34.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, Williams Capital decreased their price target on shares of Parsley Energy from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have issued a buy rating to the company. Parsley Energy presently has a consensus rating of “Buy” and a consensus price target of $40.36.

Shares of Parsley Energy (NYSE:PE) opened at $27.18 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82. The stock has a market cap of $8,545.34, a price-to-earnings ratio of 71.53, a PEG ratio of 3.12 and a beta of -0.05.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The firm had revenue of $241.02 million during the quarter, compared to analysts’ expectations of $234.58 million. During the same period in the prior year, the company earned $0.05 EPS. The firm’s revenue was up 81.8% on a year-over-year basis. sell-side analysts predict that Parsley Energy will post 0.47 earnings per share for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. American International Group Inc. raised its stake in shares of Parsley Energy by 3.8% in the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after purchasing an additional 180 shares in the last quarter. Atria Investments LLC raised its stake in shares of Parsley Energy by 3.2% in the 2nd quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after purchasing an additional 315 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Parsley Energy by 6.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after purchasing an additional 565 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Parsley Energy by 14.1% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after purchasing an additional 735 shares in the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in shares of Parsley Energy by 0.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock valued at $2,669,000 after purchasing an additional 738 shares in the last quarter. Institutional investors and hedge funds own 78.49% 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.

Analyst Recommendations for Parsley Energy (NYSE:PE)

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