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Stock analysts at JPMorgan Chase & Co. began coverage on shares of Parsley Energy (NYSE:PE) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $24.00 price target on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 1.61% from the stock’s previous close.

Shares of Parsley Energy (NYSE:PE) traded down 1.23% on Tuesday, hitting $23.33. The stock had a trading volume of 797,594 shares. Parsley Energy has a 52 week low of $21.19 and a 52 week high of $25.70. The stock has a 50-day moving average of $24.22 and a 200-day moving average of $24.22. The company’s market cap is $2.606 billion.

Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Parsley Energy in a research note on Tuesday. They set an “outperform” rating on the stock. Analysts at Goldman Sachs initiated coverage on shares of Parsley Energy in a research note on Tuesday. They set a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $28.00.

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.

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