Morgan Stanley Boosts Parsley Energy (PE) Price Target to $28.00
Parsley Energy (NYSE:PE) had its target price raised by Morgan Stanley from $27.00 to $28.00 in a report issued on Wednesday morning. The firm currently has an equal weight rating on the oil and natural gas company’s stock.
Several other research analysts also recently commented on the company. SunTrust Banks restated a buy rating and set a $31.00 price objective on shares of Parsley Energy in a report on Tuesday. Piper Jaffray Companies restated a buy rating and set a $38.00 price objective on shares of Parsley Energy in a report on Friday, February 2nd. ValuEngine downgraded Parsley Energy from a hold rating to a sell rating in a report on Friday, February 2nd. Deutsche Bank began coverage on Parsley Energy in a report on Thursday, February 1st. They set a buy rating and a $38.00 price objective on the stock. Finally, Bank of America reduced their price objective on Parsley Energy from $38.00 to $37.00 and set a buy rating on the stock in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $37.38.
Shares of Parsley Energy (PE) opened at $23.49 on Wednesday. The firm has a market capitalization of $7,344.08, a P/E ratio of 293.66, a PEG ratio of 0.93 and a beta of -0.32. Parsley Energy has a fifty-two week low of $22.41 and a fifty-two week high of $33.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.
About Parsley Energy
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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