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Equities researchers at Raymond James increased their price objective on shares of Parsley Energy (NYSE:PE) from $30.00 to $31.00 in a research note issued on Tuesday. Raymond James’ price objective would indicate a potential upside of 53.77% from the company’s current price.

A number of other analysts have also recently weighed in on PE. 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $28.14.

Shares of Parsley Energy (NYSE:PE) traded up 5.70% during mid-day trading on Tuesday, hitting $21.31. The stock had a trading volume of 345,198 shares. Parsley Energy has a one year low of $19.29 and a one 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 $2.381 billion.

Parsley Energy (NYSE:PE) last issued its quarterly 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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