Parsley Energy (PE) has risen sharply, recording gains of 18.94% in the past 4 weeks. However, the stock has corrected -0.21% in the past 1 week, providing a good buying opportunity on dips. Parsley Energy (PE) : Traders are bullish on Parsley Energy (PE) as it has outperformed the S&P 500 by a wide margin of 19.19% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.45%, relative to the S&P 500.
For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 4.85% and the fifty day Moving Average is 15.93%. Parsley Energy, Inc. is up 30.72% in the last three month period. Year-to-Date the stock performance stands at 83.79%.
Parsley Energy (PE) stock is expected to deviate a maximum of $3.71 from the average target price of $39.21 for the short term period. 19 Street Experts have initiated coverage on the stock with the most promising target being $44 and the most muted being $28.
Parsley Energy (NYSE:PE): On Fridays trading session , Opening price of the stock was $34.13 with an intraday high of $34.22. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $33.5. However, the stock managed to close at $33.91, a loss of 0.12% for the day. On the previous day, the stock had closed at $33.95. The total traded volume of the day was 1,719,896 shares.
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.