Stifel reiterated a Buy rating on Parsley Energy (NYSE: PE), and raised the price target to $25.00 (from $24.00), following the company's announced agreements to acquire 22,908 net acres in the Midland and Southern Delaware Basins.

Analyst Daniel Guffey commented, "After the close, PE announced it has entered into agreements to acquire 22,908 net acres in the Midland and Southern Delaware Basins for an aggregate price of $359 million. The combined assets are currently producing 2,300 Boe/d from 9 horizontal and 97 vertical wells and has 6 horizontal wells in various stages of D&C."

For an analyst ratings summary and ratings history on Parsley Energy click here. For more ratings news on Parsley Energy click here.

Shares of Parsley Energy closed at $22.55 yesterday.

Analyst Comments Analyst EPS Change Analyst PT Change Mergers and Acquisitions

Parsley Energy (PE) Adds Midland Inventory at an Attractive Price - UBSApril 5, 2016 8:41 AM Parsley Energy (PE) Prices Larger 18.25M Stock Offering for Proceeds of $390.6MApril 5, 2016 6:36 AM Parsley Energy Prices Upsized Offering of Class A Common StockApril 4, 2016 7:40 PM After-Hours Stock Movers 04/04: (PFE) Higher; (PSUN) (AGN) (TSLA) Lower (more...)April 4, 2016 6:15 PM Parsley Energy (PE) Announces $359M Acquisition of Assets; Updates FY16 OutlookApril 4, 2016 4:10 PM Parsley Energy (PE) to Offer 16M Common SharesApril 4, 2016 4:06 PM Parsley Energy Announces Public Offering of Class A Common StockApril 4, 2016 4:06 PM Parsley Energy Announces Acquisitions and Updates Full-Year GuidanceApril 4, 2016 4:05 PM Moody's Downgrades to Clayton Williams Energy (CWEI) 'Caa3', Upgrades Parsley Energy (PE) to 'B2'April 1, 2016 2:49 PM