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Parsley Energy (NYSE:PE) hit a new 52-week low during mid-day trading on Friday , American Banking and Market News reports. The company traded as low as $21.06 and last traded at $21.30, with a volume of 298,649 shares changing hands. The stock had previously closed at $21.42.

Several analysts have recently commented on the stock. Analysts at Tudor Pickering initiated coverage on shares of Parsley Energy in a research note on Monday, July 21st. They set an “accumulate” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of Parsley Energy in a research note on Thursday, July 3rd. They set a “sector perform” rating and a $27.00 price target on the stock. Finally, analysts at Simmons initiated coverage on shares of Parsley Energy in a research note on Monday, June 30th. They set an “overweight” rating on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.14.

The stock’s 50-day moving average is $23.09 and its 200-day moving average is $23.40. The company’s market cap is $2.363 billion. Parsley Energy also was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 1,996,197 shares, a growth of 79.1% from the June 30th total of 1,114,463 shares. Based on an average trading volume of 1,104,513 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.4% of the shares of the company are short sold.

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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