Parsley Energy (PE) Stock Price Down 6%
Parsley Energy Inc (NYSE:PE) shares were down 6% on Thursday . The stock traded as low as $21.95 and last traded at $22.09. Approximately 7,950,924 shares changed hands during trading, an increase of 9% from the average daily volume of 7,318,890 shares. The stock had previously closed at $23.49.
Several research analysts recently weighed in on PE shares. Zacks Investment Research upgraded Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Citigroup dropped their target price on Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. ValuEngine downgraded Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. dropped their target price on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 15th. Finally, Northland Securities set a $36.00 target price on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $37.38.
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 cap of $6,944.81, a P/E ratio of 271.78, a price-to-earnings-growth ratio of 0.88 and a beta of -0.32.
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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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