Research Analysts’ Weekly Ratings Updates for Parsley Energy (PE)

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Parsley Energy (NYSE: PE) recently received a number of ratings updates from brokerages and research firms:

9/8/2016 – Parsley Energy was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas. “
8/30/2016 – Parsley Energy had its price target raised by analysts at Morgan Stanley to $48.00. They now have an “overweight” rating on the stock.
8/29/2016 – Parsley Energy is now covered by analysts at Williams Capital. They set a “hold” rating and a $37.00 price target on the stock.
8/22/2016 – Parsley Energy had its price target raised by analysts at KeyCorp from $36.00 to $37.00. They now have an “overweight” rating on the stock.
8/17/2016 – Parsley Energy had its price target raised by analysts at Imperial Capital from $40.00 to $42.00. They now have an “outperform” rating on the stock.
8/17/2016 – Parsley Energy had its price target raised by analysts at Nomura from $31.00 to $36.00. They now have a “buy” rating on the stock.
8/16/2016 – Parsley Energy had its price target raised by analysts at Wunderlich from $33.00 to $40.00. They now have a “buy” rating on the stock.
8/16/2016 – Parsley Energy had its price target raised by analysts at Stifel Nicolaus from $34.00 to $40.00. They now have a “buy” rating on the stock.
8/15/2016 – Parsley Energy had its price target raised by analysts at JPMorgan Chase & Co. from $34.00 to $40.00. They now have an “overweight” rating on the stock.
8/13/2016 – Parsley Energy had its “overweight” rating reaffirmed by analysts at Simmons. They now have a $38.00 price target on the stock, up previously from $33.00.
8/8/2016 – Parsley Energy had its price target raised by analysts at Goldman Sachs Group Inc. from $25.00 to $29.00. They now have a “neutral” rating on the stock.
8/5/2016 – Parsley Energy had its price target raised by analysts at Imperial Capital from $34.00 to $40.00. They now have an “outperform” rating on the stock.
8/5/2016 – Parsley Energy had its price target raised by analysts at Barclays PLC from $30.00 to $36.00. They now have an “overweight” rating on the stock.
8/3/2016 – Parsley Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 price target on the stock. According to Zacks, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas. “
7/26/2016 – Parsley Energy is now covered by analysts at Imperial Capital. They set an “outperform” rating and a $34.00 price target on the stock. They wrote, “PE’s activity in the Midland Basin has resulted in improving efficiencies and peer leading IRRs, while early Delaware Basin results show similar promise,” analyst Kim Pacanovsky wrote in a note.Further, Pacanovsky said, “Investors should focus on companies with the lowest breakeven/highest IRRs in combination with a strong balance sheet” given the Brexit effect and volatile commodity markets.”We believe Parsley Energy is among those companies,” Pacanovsky highlighted.Related Link: Goldman Sachs Sees Multiple Expansion For American Electric Power CompanyParsley has a “lean” balance sheet, with $821 million of pro forma liquidity. The analyst said the company’s hedging strategy protected it from the fall in crude prices, which also resulted in lower service costs.”In fact, at our estimated year-over-year (yoy) crude growth of 69 percent for 2016, we believe it will far outpace its peers on oil growth. With liquidity, a low cost structure, smart hedges, and no finger on the pause button, we believe PE has all the ingredients to continue to outperform the group,”
7/21/2016 – Parsley Energy is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $39.00 price target on the stock.
7/18/2016 – Parsley Energy had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $34.00 price target on the stock, up previously from $30.00.

Shares of Parsley Energy Inc. (NYSE:PE) traded down 0.09% during mid-day trading on Monday, reaching $33.60. The company had a trading volume of 906,679 shares. The firm has a 50-day moving average of $32.22 and a 200-day moving average of $26.06. The company’s market capitalization is $5.75 billion. Parsley Energy Inc. has a 12-month low of $13.84 and a 12-month high of $35.00.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The business had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $92.04 million. Parsley Energy had a negative return on equity of 0.66% and a negative net margin of 18.26%. The company’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. On average, equities analysts anticipate that Parsley Energy Inc. will post $0.11 earnings per share for the current fiscal year.

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In other Parsley Energy news, insider Matthew Gallagher sold 30,300 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $33.89, for a total value of $1,026,867.00. Following the sale, the insider now owns 637,006 shares in the company, valued at approximately $21,588,133.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bryan Sheffield sold 1,100,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $32.15, for a total transaction of $35,365,000.00. Following the completion of the sale, the insider now owns 13,169,935 shares in the company, valued at approximately $423,413,410.25. The disclosure for this sale can be found here. Corporate insiders own 24.17% of the company’s stock.
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

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