.png "Parsley Energy (NYSE: PE)")
Northland Securities analyst Jeff Grampp reiterated a Buy rating on Parsley Energy (PE) on December 10 and set a price target of $36. The company’s shares closed yesterday at $17.79, close to its 52-week low of $17.49.
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.1% and a 31.4% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Resolute Energy Corp, and Earthstone Energy.
Currently, the analyst consensus on Parsley Energy is a Strong Buy with an average price target of $37.06, representing a 108.3% upside. In a report issued on November 27, Goldman Sachs also upgraded the stock to Buy with a $30 price target.
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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 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
