Parsley Energy (NYSE:PE) : 17 Wall Street analysts covering Parsley Energy (NYSE:PE) believe that the average level the stock could reach for the short term is $29.77. The maximum price target given is $36 and the minimum target for short term is around $21, hence the standard deviation is calculated at $3.25.
Other Equity analysts have also commented on the company shares. Wunderlich initiates coverage on Parsley Energy (NYSE:PE) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $32 per share. The rating by the firm was issued on June 17, 2016.
Parsley Energy (NYSE:PE): stock turned positive on Thursday. Though the stock opened at $26.92, the bulls momentum made the stock top out at $27.22 level for the day. The stock recorded a low of $26.665 and closed the trading day at $27.22, in the green by 2.25%. The total traded volume for the day was 1,944,347. The stock had closed at $26.62 in the previous days trading.
The company shares have rallied 43.27% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $28.01 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $25.74 and the 200 Day Moving Average price is recorded at $21.06. On the companys insider trading activities,The officer (See Remarks) of Parsley Energy, Inc., Dalton Ryan sold 60,000 shares at $26.52 on June 15, 2016. The Insider selling transaction had a total value worth of $1,591,200. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Companys properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Companys vertical wells in the area are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations. The Companys principal asset is a controlling equity interest in Parsley LLC, and is its managing member. As of December 31, 2014, the Company had interests in 724 gross (416.4 net) producing wells.