Macquarie downgraded Parsley Energy Inc (NYSE:PE) to Neutral in a report released today.
- Updated: October 15, 2016
Yesterday Parsley Energy Inc (NYSE:PE) traded -0.58% lower at $36.54. The company’s 50-day moving average is $33.86 and its 200-day moving average is $28.47. The last stock close price is up 26.63% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,853,180 shares of the stock were exchanged, down from an average trading volume of 2,985,650
Macquarie has downgraded Parsley Energy Inc (NYSE:PE) to Neutral in a report released on 10/12/2016.
Previously on 9/13/2016, FBR & Co. reported about Parsley Energy Inc (NYSE:PE) raised the target price from $0.00 to $41.00. At the time, this indicated a possible upside of 0.21%.
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Parsley Energy Inc has a 52 week low of $14.51 and a 52 week high of $37.04 The company’s market cap is currently $0.
In addition to Macquarie reporting its target price, a total of 28 firms have reported on the stock. The consensus target price is $30.04 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.
About Parsley Energy Inc (NYSE:PE)
Parsley Energy, Inc. is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company's properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Company's vertical wells in the Permian Basin are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations. The Company splits its assets into over four areas, including the Midland Basin-Core, Midland Basin-Tier I, Midland Basin-Other and Southern Delaware Basin.
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