ValuEngine downgraded shares of Parsley Energy (NYSE:PE) from a hold rating to a sell rating in a report issued on Sunday.
Several other equities research analysts also recently issued reports on PE. JPMorgan Chase & Co. decreased their price target on Parsley Energy from $50.00 to $44.00 and set an overweight rating for the company in a report on Tuesday, September 26th. BMO Capital Markets set a $35.00 price target on Parsley Energy and gave the stock a buy rating in a report on Tuesday, October 10th. Stifel Nicolaus set a $46.00 price objective on Parsley Energy and gave the stock a buy rating in a research report on Thursday, October 5th. US Capital Advisors reissued an overweight rating on shares of Parsley Energy in a research report on Monday, October 2nd. Finally, Jefferies Group initiated coverage on Parsley Energy in a research report on Monday, October 9th. They issued a buy rating and a $34.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the company’s stock. Parsley Energy has an average rating of Buy and a consensus price target of $38.95.
Shares of Parsley Energy (NYSE PE) opened at $30.47 on Friday. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $37.72. The stock has a market capitalization of $9,255.55, a price-to-earnings ratio of 380.92 and a beta of -0.05. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 buying an additional 597,682 shares during the last quarter. Boston Partners lifted its position in shares of 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 valued at $402,148,000 after buying an additional 2,466,399 shares during the last quarter. Apollo Management Holdings L.P. purchased a new position in shares of Parsley Energy during the 2nd quarter valued at $414,418,000. BlackRock Inc. lifted its position in shares of 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 valued at $317,419,000 after buying an additional 223,388 shares during the last quarter. Finally, FMR LLC lifted its position in shares of 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 valued at $280,034,000 after buying an additional 2,893,045 shares during the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.
About Parsley Energy
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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