10.47% to Target, JP Morgan Reiterates “Overweight” Rating for Parsley Energy (NYSE:PE) Stock

Parsley Energy (NYSE:PE) Rating

In analysts report sent to investors on today, JP Morgan reconfirmed their “Overweight” rating on Parsley Energy (NYSE:PE)’s stock. The TP means a potential upside of 10.47% from company’s current price.

Out of 29 analysts covering Parsley Energy Inc (NYSE:PE), 0 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means NaN are positive. $30 is the highest target while $19 is the lowest. The $24 average target is 9.32% above today’s ($20.82) stock price. Parsley Energy Inc was the topic in 38 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Credit Suisse maintained the stock on March 2 with “Outperform” rating. Stifel Nicolaus initiated it with “Buy” rating and $23.0 target price in a December 10 report. Topeka Capital Markets maintained the shares of PE in a report on February 25 with “Buy” rating. Howard Weil upgraded the firm’s rating on November 30. Howard Weil has “Focus Stock” rating and $25 price target. Finally, UBS initiated the stock with “Buy” rating in a December 15 report.

The stock increased 2.61% or $0.53 during the last trading session, hitting $20.82. About 2.06 million shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 40.71% since August 7, 2015 and is uptrending. It has outperformed by 43.50% the S&P500.

The institutional sentiment decreased to 1.71 in 2015 Q3. Its down 0.04, from 1.75 in 2015Q2. The ratio fall, as 26 funds sold all Parsley Energy Inc shares owned while 25 reduced positions. 23 funds bought stakes while 64 increased positions. They now own 100.14 million shares or 16.31% more from 86.10 million shares in 2015Q2.

G.F.W. Energy X L.P. holds 25.13% of its portfolio in Parsley Energy Inc for 6.62 million shares. Brenham Capital Management L.P. owns 3.40 million shares or 11.02% of their US portfolio. Moreover, Syntal Capital Partners Llc has 7.16% invested in the company for 338,152 shares. The New York-based Zimmer Partners Lp has invested 6.43% in the stock. Arosa Capital Management Lp, a New York-based fund reported 2.75 million shares.

Since March 3, 2015, the stock had 0 insider purchases, and 4 selling transactions for $2.03 million net activity. Hinson Mike sold 20,000 shares worth $338,000. Dalton Ryan sold 56,967 shares worth $1.00 million. Treadwell Paul sold 150,000 shares worth $2.44M. Gallagher Matthew sold 100,000 shares worth $1.59 million. The insider Sheffield Bryan sold 20,000 shares worth $327,000.

Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $3.48 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It currently has negative earnings. 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.”

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