Is Parsley Energy (NYSE:PE) Now a Sell? Find Out What BofA Merrill Thinks

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How BofA Merrill Currently Rates Parsley Energy (NYSE:PE)

BofA Merrill issued “Buy” rating on Parsley Energy (NYSE:PE). The firm initiated coverage on shares of PE in a note sent to investors and clients on Tuesday, 1 December.

From a total of 22 analysts covering Parsley Energy Inc (NYSE:PE) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $26 while the lowest target price is $16. The mean of all analyst targets is $22.05 with a 5.47% above today’s ($20.31) stock price. Parsley Energy Inc was the topic of 21 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Howard Weil upgraded shares on November 30 to “Focus Stock” rating. Evercore initiated shares with “Buy” rating and $20 target share price in a report from an October 2. RBC Capital Markets maintained PE stock in a recent report from November 6 with “Sector Perform” rating. Macquarie Research maintained the rating on September 21. Macquarie Research has a “Outperform” rating and a $19 price target on shares. Finally, Canaccord Genuity initiated the stock with “Buy” rating in a report issued on an October 20.

Approximately 693,446 shares of stock traded hands. Parsley Energy Inc (NYSE:PE) has risen 17.24% since April 28, 2015 and is uptrending. It has outperformed by 18.87% the S&P500.

Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $3.08 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 165.19 P/E ratio. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.” Get a free copy of the Zacks research report on Parsley Energy Inc (PE)

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