Williams Capital Group Initiates Coverage on Parsley Energy Inc to Hold

Williams Capital Group Initiates Coverage on Parsley Energy Inc(NYSE:PE). The shares have been rated Hold. The rating by Williams Capital Group was issued on Aug 29, 2016.

In a different note, On Aug 30, 2016, Morgan Stanley said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $44.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 26, 2016, UBS said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 22, 2016, KeyBanc said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $36.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 17, 2016, Nomura 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. On Aug 15, 2016, JP Morgan said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 8, 2016, Goldman Sachs said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Neutral’ by the firm.

Parsley Energy Inc (PE) made into the market gainers list on Thursdays trading session with the shares advancing 1.30% or 0.44 points. Due to strong positive momentum, the stock ended at $34.29, which is also near the day’s high of $34.31. The stock began the session at $33.67 and the volume stood at 29,21,944 shares. The 52-week high of the shares is $34.78 and the 52 week low is $13.84. The company has a current market capitalization of $6,832 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 Aug 24, 2016, Matthew Gallagher (officer ) sold 45,000 shares at $33.82 per share price.Also, On Aug 12, 2016, Mike Hinson (officer ) sold 25,000 shares at $32.87 per share price.On Aug 10, 2016, David Henry Smith (director) sold 6,250 shares at $32.99 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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