Parsley Energy Receives a Hold from Williams Capital

Williams Capital analyst Gabriele Sorbara reiterated a Hold rating on Parsley Energy (NYSE: PE) on May 21 and set a price target of $38. The company’s shares closed yesterday at $31.02.

According to TipRanks.com, Sorbara is a 4-star analyst with an average return of 4.7% and a 56.1% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $40.30.

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Based on Parsley Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $82.89 million. In comparison, last year the company had a net profit of $29.44 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral 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.