Parsley Energy (PE) Price Target Lowered to $36.00 at Credit Suisse Group
Parsley Energy (NYSE:PE) had its target price cut by Credit Suisse Group from $38.00 to $36.00 in a report released on Tuesday. They currently have a buy rating on the oil and natural gas company’s stock.
Other research analysts also recently issued reports about the stock. US Capital Advisors reaffirmed an overweight rating on shares of Parsley Energy in a research report on Monday, October 2nd. Scotiabank reaffirmed a buy rating and set a $38.00 price objective on shares of Parsley Energy in a research report on Wednesday, November 22nd. Williams Capital downgraded shares of Parsley Energy from a buy rating to a hold rating and lowered their price objective for the company from $38.00 to $34.00 in a research report on Tuesday. BMO Capital Markets set a $35.00 target price on shares of Parsley Energy and gave the stock a buy rating in a research report on Tuesday, October 10th. Finally, Jefferies Group began coverage on shares of Parsley Energy in a research report on Monday, October 9th. They issued a buy rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $37.96.
Parsley Energy (PE) opened at $23.13 on Tuesday. Parsley Energy has a 1 year low of $22.93 and a 1 year high of $35.28. The company has a market cap of $7,270.00, a P/E ratio of 330.43, a P/E/G ratio of 0.93 and a beta of -0.32. 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 institutional investors have recently modified their holdings of the company. CI Investments Inc. acquired a new stake in shares of Parsley Energy in the fourth quarter worth $3,203,000. US Bancorp DE lifted its stake in shares of Parsley Energy by 245.6% in the fourth quarter. US Bancorp DE now owns 533,780 shares of the oil and natural gas company’s stock worth $15,714,000 after buying an additional 379,333 shares during the last quarter. Aperio Group LLC lifted its stake in shares of Parsley Energy by 22.8% in the fourth quarter. Aperio Group LLC now owns 45,988 shares of the oil and natural gas company’s stock worth $1,354,000 after buying an additional 8,541 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Parsley Energy by 8.3% in the fourth quarter. Victory Capital Management Inc. now owns 8,457,237 shares of the oil and natural gas company’s stock worth $248,980,000 after buying an additional 648,938 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Parsley Energy by 4.8% in the fourth quarter. Bessemer Group Inc. now owns 63,472 shares of the oil and natural gas company’s stock worth $1,869,000 after buying an additional 2,887 shares during the last quarter. Institutional investors and hedge funds own 80.12% of the company’s stock.
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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.
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