Susquehanna analyst Biju Perincheril reiterated a Buy rating on Parsley Energy (NYSE: PE) on July 10 and set a price target of $38. The company’s shares closed yesterday at $32.07, close to its 52-week high of $33.43.
According to TipRanks.com, Perincheril is a 5-star analyst with an average return of 18.8% and a 70.7% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parsley Energy with a $42.55 average price target, which is a 32.7% upside from current levels. In a report issued on July 5, TD Securities also initiated coverage with a Buy rating on the stock with a $37 price target.
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The company has a one-year high of $33.43 and a one-year low of $21.12. Currently, Parsley Energy has an average volume of 5.67M.
Based on the recent corporate insider activity of 43 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.
