Is Parsley Energy (NYSE:PE) a Buy or a Sell? What Does Deutsche Bank Think?

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Why Has Deutsche Bank Given Parsley Energy (NYSE:PE) a $24 Price Target

New York: Parsley Energy (NYSE:PE) coverage was started with a key ‘”Buy”‘ rating as well as a $24 target price per share at Deutsche Bank. The PT by Deutsche Bank may suggest upside of 25.52% from the last stock close price.

From a total of 23 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 $22.17 with a 13.08% above today’s ($19.12) stock price. Parsley Energy Inc was the topic of 23 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Deutsche Bank initiated shares on December 2 with “Buy” rating. Northland Capital maintained shares with “Outperform” rating and $22 target share price in a report from a November 6. Howard Weil upgraded PE stock in a recent report from November 30 to “Focus Stock” rating. Evercore initiated the rating on October 2. Evercore has a “Buy” rating and a $20 price target on shares. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on a November 6.

The stock decreased 3.24% or $0.64 on December 2, striking $19.12. Approximately 2.59 million shares of stock traded hands or 19.35% up from the average. Parsley Energy Inc (NYSE:PE) has risen 13.76% since April 29, 2015 and is uptrending. It has outperformed by 13.96% the S&P500.

Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $3.11 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 155.51 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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