Analyst Rating Update on Parsley Energy (PE)

Parsley Energy (PE) has an average broker rating of 1.29, which is interpreted as a Strong Buy, as rated by 21 equity analysts. Nonetheless, 17 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 2, which is also a Buy.

Parsley Energy (PE) : The most positive equity analysts on Parsley Energy (PE) expects the shares to touch $39, whereas, the least positive believes that the stock will trade at $21 in the short term. The company is covered by 19 Wall Street Brokerage Firms. The average price target for shares are $32.21 with an expected fluctuation of $3.88 from the mean.

For the current week, the company shares have a recommendation consensus of Buy. Also, Imperial Capital initiates coverage on Parsley Energy (NYSE:PE) The current rating of the shares is Outperform. Equity Analysts at the Firm announces the price target to $34 per share. The rating by the firm was issued on July 26, 2016.


Parsley Energy (NYSE:PE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.74 and $27.49 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.54. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.47, notching a gain of 2.52% for the day. The total traded volume was 3,265,182 . The stock had closed at $27.77 on the previous day.

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.

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