Parsley Energy (PE) Shares are Up 2%

Parsley Energy (PE) : Traders are bullish on Parsley Energy (PE) as it has outperformed the S&P 500 by a wide margin of 1.56% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.07%, 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% in the last 1 week, and is up 4.97% 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% and the 50-Day Moving Average is 6.39%. Parsley Energy, Inc. is up 21.73% in the last 3-month period. Year-to-Date the stock performance stands at 54.53%.


Parsley Energy (NYSE:PE): stock turned positive on Friday. Though the stock opened at $27.61, the bulls momentum made the stock top out at $28.575 level for the day. The stock recorded a low of $27.52 and closed the trading day at $28.51, in the green by 2.04%. The total traded volume for the day was 2,187,699. The stock had closed at $27.94 in the previous days trading.

Also, Imperial Capital initiates coverage on Parsley Energy (NYSE:PE) The current rating of the shares is Outperform. Equity Analysts at the Firm announces the price target to $34 per share. The rating by the firm was issued on July 26, 2016.

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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