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Massive upside for three shale players - Grant's

  • Commodity mutual fund manager Leigh Goehring tells Grant's Interest Rate Observer Pioneer Natural Resources (NYSE:PXD) could roughly double to $310 per share should WTI crude rise to $75 per barrel (from the current low $60s).
  • He sees even larger upside for Parsley Energy (NYSE:PE), suggesting $95 per share from the current $19.
  • Also getting a shout in this week's Grant's is Range Resources (NYSE:RRC), a "prolific, leveraged, hairy, heavily shorted” player who happens to do business in the Marcellus Shale rather than the "red-hot" Permian. Range, says Goehring, has "some of the best rock in the world," with upside to $29 from the current $8.68.
  • PXD is down 2.25% today, and RRC off 4.15%. PE is marginally lower.

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PE
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