Brokerage Firm Rating Update on Parsley Energy (PE)

Parsley Energy (PE) : Zacks Investment Research ranks Parsley Energy (PE) as 3, which is a Hold recommendation. 18 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 23 research analysts is 1.35, which indicates as a Strong Buy.

Parsley Energy (PE) : The highest short term price target forecast on Parsley Energy (PE) is $48 and the lowest target price is $28. A total of 20 equity analysts are currently covering the company. The average price of all the analysts is $39.55 with a standard deviation of $3.89.


For the current week, the company shares have a recommendation consensus of Buy. Also, Major Brokerage house, Morgan Stanley maintains its ratings on Parsley Energy (NYSE:PE). In the latest research report, Morgan Stanley raises the target price from $44 per share to $48 per share. According to the latest information available, the shares are now rated Overweight by the analysts at the agency. The rating by the firm was issued on August 30, 2016.

Parsley Energy (NYSE:PE): stock was range-bound between the intraday low of $34.33 and the intraday high of $34.97 after having opened at $34.89 on Wednesdays session. The stock finally closed in the red at $34.89, a loss of -0.98%. The stock remained in the red for the whole trading day. The total traded volume was 2,424,595 shares. The stock failed to cross $34.97 in Wednesdays trading. The stocks closing price on Thursday was $34.77.

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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