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Analysts at Johnson Rice began coverage on shares of Parsley Energy (NYSE:PE) in a research report issued to clients and investors on Tuesday. The firm set an “overweight” rating on the stock.

Shares of Parsley Energy (NYSE:PE) opened at 20.16 on Tuesday. Parsley Energy has a 1-year low of $19.29 and a 1-year high of $25.70. The stock’s 50-day moving average is $22.26 and its 200-day moving average is $22.91. The company’s market cap is $2.252 billion.

Parsley Energy (NYSE:PE) last released its earnings data on Tuesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $82.30 million for the quarter, compared to the consensus estimate of $77.10 million. On average, analysts predict that Parsley Energy will post $0.48 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on PE. Analysts at Raymond James reiterated an “outperform” rating on shares of Parsley Energy in a research note on Thursday, August 14th. They now have a $30.00 price target on the stock, down previously from $32.00. Separately, 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. Finally, 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. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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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