Parsley Energy (NYSE:PE): The mean short term price target for Parsley Energy (NYSE:PE) has been established at $29.47 per share. The higher price target estimate is at $36 and the lower price target estimate is expected at $21 according to 15 Analyst. The stock price is expected to vary based on the estimate which is suggested by the standard deviation value of $3.36
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, Raymond James upgrades its outlook on Parsley Energy (NYSE:PE). The current rating of the shares is Strong Buy, according to the research report released by the firm. Previously, the company had a rating of Outperform. The rating by the firm was issued on May 5, 2016. For the current week, the company shares have a recommendation consensus of Buy.
On the companys insider trading activities,The officer (Vice President-Land) of Parsley Energy, Inc., Hinson Mike sold 25,000 shares at $26.4 on June 2, 2016. The Insider selling transaction had a total value worth of $660,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Parsley Energy (NYSE:PE) : On Monday heightened volatility was witnessed in Parsley Energy (NYSE:PE) which led to swings in the share price. The stock opened for trading at $26.25 and hit $26.96 on the upside , eventually ending the session at $26.65, with a gain of 0.45% or 0.12 points. The heightened volatility saw the trading volume jump to 1,883,720 shares. The 52-week high of the share price is $28.01 and the company has a market cap of $5,057 million. The 52-week low of the share price is at $13.29 .
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.