Why Has Deutsche Bank Given Parsley Energy Inc (NYSE:PE) a $24.00 Price Target
In a note distributed on 2 December, Deutsche Bank analyst has today have begun coverage for Parsley Energy Inc (NYSE:PE) shares with a Buy rating. The target price is now $24.00.
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 8.40% above today’s ($19.76) stock price. Parsley Energy Inc was the topic of 22 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Bank of America initiated shares on December 1 with “Buy” rating. Evercore initiated shares with “Buy” rating and $20 target share price in a report from an October 2. Iberia Capital Partners downgraded PE stock in a recent report from November 12 to “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, Northland Capital maintained the stock with “Outperform” rating in a report issued on a November 6.
The stock increased 0.56% or $0.11 during the last trading session, striking $19.76. Approximately shares of stock traded hands. 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 $2.98 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 160.72 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).