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A number of firms have modified their ratings and price targets on shares of Parsley Energy (NYSE: PE) recently:

  • Parsley Energy is now covered by analysts at Goldman Sachs. They set a “neutral” rating on the stock.
  • Parsley Energy is now covered by analysts at Wells Fargo & Co.. They set an “outperform” rating on the stock.
  • Parsley Energy is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $24.00 price target on the stock.
  • Parsley Energy is now covered by analysts at Credit Suisse. They set an “outperform” rating and a $31.00 price target on the stock. They wrote, “We initiate coverage of Parsley Energy (PE) with an Outperform rating and a target price of $31, which assumes that the shares trade at parity with our net asset value (NAV) estimate. “Parsley is a Permian Basin pure play, with a concentrated position in the Northern Midland Basin and an enterprise value of $3.0 billion. PE owns 89K net acres in the Midland Basin, but the bulk of its acreage is in the ‘core of the core’, which provides some of the highest rate of return oil projects in U.S. E&P. In addition, PE has a free call option on the Delaware Basin, with a contiguous 23K net acre position primarily in Pecos and Reeves counties, where industry activity has been rising.”
  • Parsley Energy is now covered by analysts at Macquarie. They set a “neutral” rating and a $28.00 price target on the stock.
  • Parsley Energy is now covered by analysts at Raymond James. They set an “outperform” rating and a $31.00 price target on the stock.
  • Parsley Energy is now covered by analysts at Stephens. They set an “overweight” rating on the stock.
  • Parsley Energy is now covered by analysts at Global Hunter Securities. They set a “neutral” rating and a $26.00 price target on the stock.
  • Parsley Energy is now covered by analysts at Howard Weil. They set an “outperform” rating and a $30.00 price target on the stock.

Parsley Energy Inc (NYSE:PE) traded up 1.67% on Wednesday, hitting $22.48. 616,604 shares of the company’s stock traded hands. Parsley Energy Inc has a 1-year low of $21.19 and a 1-year high of $25.70. The stock’s 50-day moving average is $23.85 and its 200-day moving average is $23.85. The company’s market cap is $2.511 billion.

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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