Parsley Energy (PE) Price Target Raised to $28.00
Parsley Energy (NYSE:PE) had its price target boosted by Morgan Stanley from $27.00 to $28.00 in a research report released on Wednesday morning. Morgan Stanley currently has an equal weight rating on the oil and natural gas company’s stock.
A number of other research firms have also commented on PE. Piper Jaffray Companies reaffirmed a buy rating and set a $41.00 price objective on shares of Parsley Energy in a research note on Tuesday, January 9th. ValuEngine lowered shares of Parsley Energy from a hold rating to a sell rating in a research note on Sunday, December 31st. Credit Suisse Group set a $38.00 price objective on shares of Parsley Energy and gave the company a buy rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital lowered shares of Parsley Energy from a buy rating to a hold rating and reduced their price objective for the company from $38.00 to $34.00 in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $36.00 price objective (down from $37.00) on shares of Parsley Energy in a research note on Sunday, November 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $37.38.
Parsley Energy (NYSE:PE) opened at $21.74 on Wednesday. Parsley Energy has a 12-month low of $21.12 and a 12-month high of $33.07. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $6,944.81, a PE ratio of 271.78, a PEG ratio of 0.88 and a beta of -0.32.
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Parsley Energy Company Profile
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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