Parsley Energy (PE) Shares are Up 2.8%

Parsley Energy (PE) : Traders are bullish on Parsley Energy (PE) as it has outperformed the S&P 500 by a wide margin of 7.4% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.29%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.8% in the last 1 week, and is up 7.26% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 3.68% and the 50-Day Moving Average is 16.14%.The 200 Day SMA reached 50.37%. Parsley Energy, Inc. is up 31.6% in the last 3-month period. Year-to-Date the stock performance stands at 88.94%.


Parsley Energy (NYSE:PE): After opening at $34.9, the stock dipped to an intraday low of $34.62 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $35 and the buying power remained strong till the end. The stock closed at $34.86 for the day, a gain of 1.66% for the day session. The total traded volume was 2,914,314. The stocks close on the previous trading day was $34.29.

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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