Parsley Energy Inc using SYMBOL code NYSE:PE had its stock rating noted as ‘Reiterated’ with the recommendation being set at ‘OUTPERFORM’ this morning by analysts at Northland Capital. Parsley Energy Inc are listed in the Energy sector within NYSE. Northland Capital have set their target price at 21 USD on its stock. This would indicate that the analyst believes there is a potential upside of 31.8% from the opening price of 15.93 USD. Parsley Energy Inc NYSE:PE has a 50 day moving average of 16.48 USD and the 200 Day Moving Average price is recorded at 17.50 USD. The 1 year high stock price is 25.7 USD while the 52 week low is 11.11 USD.
Parsley Energy Inc NYSE:PE 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 is comprised of 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 area are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations.