Parsley Energy (NYSE:PE) had its target price trimmed by Deutsche Bank from $38.00 to $36.00 in a report released on Thursday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.
Other research analysts also recently issued research reports about the company. Piper Jaffray Companies reissued a buy rating and issued a $41.00 price target on shares of Parsley Energy in a research note on Tuesday, January 9th. ValuEngine downgraded Parsley Energy from a hold rating to a sell rating in a research note on Sunday, December 31st. Morgan Stanley increased their price target on Parsley Energy from $30.00 to $35.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Credit Suisse Group set a $38.00 price target on Parsley Energy and gave the company a buy rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Williams Capital downgraded Parsley Energy from a buy rating to a hold rating and cut their price target for the company from $38.00 to $34.00 in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $36.13.
Parsley Energy (PE) opened at $26.21 on Thursday. Parsley Energy has a 1-year low of $21.12 and a 1-year high of $33.07. 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 stock has a market capitalization of $8,240.08, a price-to-earnings ratio of 42.27, a price-to-earnings-growth ratio of 1.17 and a beta of -0.32.
A number of institutional investors have recently modified their holdings of PE. Assetmark Inc. raised its stake in Parsley Energy by 417.5% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after buying an additional 2,864 shares during the period. Advisor Group Inc. raised its stake in Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 781 shares during the period. Cerebellum GP LLC acquired a new stake in Parsley Energy during the 4th quarter worth $128,000. American International Group Inc. bought a new position in Parsley Energy during the 4th quarter worth about $155,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Parsley Energy during the 3rd quarter worth about $196,000. 80.50% of the stock is currently owned by institutional investors and hedge funds.
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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.
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