Parsley Energy Receives a Buy from Stifel Nicolaus


Stifel Nicolaus analyst Michael Scialla maintained a Buy rating on Parsley Energy (NYSE: PE) today and set a price target of $55. The company’s shares closed yesterday at $29.29.

According to TipRanks.com, Scialla is a 2-star analyst with an average return of 0.2% and a 52.4% success rate. Scialla covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Abraxas Petroleum Corp, and Jagged Peak Energy Inc.

Currently, the analyst consensus on Parsley Energy is Strong Buy and the average price target is $39.20, representing a 33.8% upside.

In a report issued on April 25, Jefferies also reiterated a Buy rating on the stock with a $38 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $32.90 and a one-year low of $21.12. Currently, Parsley Energy has an average volume of 5.4M.

Based on the recent corporate insider activity of 38 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.

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