Piper Jaffray analyst Kashy Harrison reiterated a Buy rating on Parsley Energy (NYSE: PE) on August 14 and set a price target of $47. The company’s shares opened today at $28.10.
According to TipRanks.com, Harrison is a 2-star analyst with an average return of 0.6% and a 42.6% success rate. Harrison covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Laredo Petroleum, and QEP Resources.
Currently, the analyst consensus on Parsley Energy is a Strong Buy with an average price target of $42.85, representing a 52.5% upside. 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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Based on Parsley Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $119 million. In comparison, last year the company had a net profit of $40.75 million.
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.
