Parsley Energy (PE) : The consensus on Parsley Energy (PE) based on 18 analyst recommendation on the company stock is 1.28, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 15 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.
Parsley Energy (PE) : Currently there are 17 street experts covering Parsley Energy (PE) stock. The most bullish and bearish price target for the stock is $36 and $21 respectively for the short term. The average price target of all the analysts comes to $29.77. The estimated standard deviation from the target is $3.25.
Parsley Energy (NYSE:PE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.62 and $26.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.09. The buying momentum continued till the end and the stock did not give up its gains. It closed at $26.87, notching a gain of 0.56% for the day. The total traded volume was 4,268,811 . The stock had closed at $26.72 on the previous day.
Also, Barclays initiates coverage on Parsley Energy (NYSE:PE) . The global brokerage major announces a current price target of $30 per share. Analysts at the Barclays have a current rating of Overweight on the shares. The rating by the firm was issued on June 21, 2016. The company shares have rallied 63.33% 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 $26.26 and the 200 Day Moving Average price is recorded at $21.56.
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.