Barclays Maintains Parsley Energy Inc to Overweight with Price Target $36.00

Brokerage firm Barclays Maintains its rating on Parsley Energy Inc(NYSE:PE). In a research note issued to the investors, the brokerage major Raises the price-target to $36.00 per share. The shares have been rated Overweight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Aug 4, 2016, UBS said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $31.00 per share. The shares have been rated ‘Buy’ by the firm. Imperial Capital said it Initiates Coverage on Parsley Energy Inc, according to a research note issued on Jul 26, 2016. The shares have been rated ‘Outperform’ by the firm. Morgan Stanley said it Initiates Coverage on Parsley Energy Inc, according to a research note issued on Jul 21, 2016. The shares have been rated ‘Overweight’ by the firm. On Jul 8, 2016, Piper Jaffray said it Assumes its rating on Parsley Energy Inc. The shares have been rated ‘Overweight’ by the firm. Barclays said it Initiates Coverage on Parsley Energy Inc, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Overweight’ by the firm. Wunderlich said it Initiates Coverage on Parsley Energy Inc, according to a research note issued on Jun 17, 2016. The shares have been rated ‘Buy’ by the firm.

Parsley Energy Inc (PE) made into the market gainers list on Wednesdays trading session with the shares advancing 0.09% or 0.03 points. Due to strong positive momentum, the stock ended at $33.77, which is also near the day’s high of $33.96. The stock began the session at $33.79 and the volume stood at 29,82,695 shares. The 52-week high of the shares is $34.68 and the 52 week low is $13.29. The company has a current market capitalization of $6,728 M and it has 19,92,38,620 shares in outstanding.

Parsley Energy Inc(PE) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $106.31M. Analysts had an estimated revenue of $93.24M. Earnings per share were $0.04. Analysts had estimated an EPS of $-0.02.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, Mike Hinson (officer ) sold 25,000 shares at $27.42 per share price.Also, On Jun 17, 2016, Ryan Dalton (officer ) sold 60,000 shares at $26.52 per share price.On May 13, 2016, Brad C. Smith (officer ) sold 10,000 shares at $25.42 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s 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 Company’s 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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