Parsley Energy Shares Gap Up After Analyst Upgrade (PE)
Parsley Energy (NYSE:PE)’s share price gapped up prior to trading on Tuesday after Raymond James raised their price target on the stock from $30.00 to $31.00, Stock Ratings Network reports. The stock had previously closed at $19.81, but opened at $20.16. Raymond James currently has an outperform rating on the stock. Parsley Energy shares last traded at $20.93, with a volume of 1,062,696 shares trading hands.
PE has been the subject of a number of other recent research reports. Analysts at Johnson Rice initiated coverage on shares of Parsley Energy in a research note on Tuesday. They set an “overweight” rating on the stock. 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.14.
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 $2.310 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. Analysts expect that Parsley Energy will post $0.48 EPS for the current fiscal year.
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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