Parsley Energy (PE) Receives a Buy from Jefferies


In a report released today, Mark Lear from Jefferies maintained a Buy rating on Parsley Energy (NYSE: PE), with a price target of $40. The company’s shares closed yesterday at $29.10.

According to TipRanks.com, Lear is a 1-star analyst with an average return of 0.0% and a 46.9% success rate. Lear covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.

Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $42.54, which is a 46.2% upside from current levels. In a report issued on August 7, Stifel Nicolaus also reiterated a Buy rating on the stock with a $58 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 4.95M.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Mike Hinson, the SVP-Corporate Development of PE sold 250,000 shares for a total of $7,560,000.

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.

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