Analyst Rating Update on Parsley Energy (PE)

Parsley Energy (NYSE:PE) has an average broker rating of 1.28, which is interpreted as a Strong Buy, as rated by 18 equity analysts. Nonetheless, 15 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 1 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 3, which is also a Hold.

Parsley Energy (NYSE:PE) : 17 Wall Street analysts covering Parsley Energy (NYSE:PE) believe that the average level the stock could reach for the short term is $29.77. The maximum price target given is $36 and the minimum target for short term is around $21, hence the standard deviation is calculated at $3.25.

For the current week, the company shares have a recommendation consensus of Buy. Also, Barclays initiates coverage on Parsley Energy (NYSE:PE) The current rating of the shares is Overweight. Equity Analysts at the Firm announces the price target to $30 per share. The rating by the firm was issued on June 21, 2016.

Parsley Energy (NYSE:PE): stock turned positive on Tuesday. Though the stock opened at $25.1, the bulls momentum made the stock top out at $25.81 level for the day. The stock recorded a low of $25.06 and closed the trading day at $25.73, in the green by 4.72%. The total traded volume for the day was 2,492,907. The stock had closed at $24.57 in the previous days trading.

In an insider trading activity, The officer (See Remarks), of Parsley Energy, Inc., Dalton Ryan had unloaded 60,000 shares at $26.52 per share in a transaction on June 15, 2016. The total value of transaction was $1,591,200. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.