Morgan Stanley analyst Drew Venker maintained a Hold rating on Parsley Energy (PE) today and set a price target of $30. The company’s shares opened today at $20.89, close to its 52-week low of $20.45.
According to TipRanks.com, Venker has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.1% and a 29.2% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Range Resources Corp.
Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $39.42.
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Based on Parsley Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $113 million. In comparison, last year the company had a GAAP net loss of $13.33 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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Parsley Energy, Inc is an oil and natural gas company, which engages in the acquisition, development, and exploitation of unconventional oil and natural gas reserves. Its portfolio includes he Midland and Southern Delaware basin. The company was founded by Bryan Sheffield, Mike Hinson, and Paul Treadwell in 2008 and is headquartered in Austin, TX.
