Raymond James analyst John Freeman maintained a Buy rating on Parsley Energy (PE) on November 1 and set a price target of $50. The company’s shares closed on Friday at $24.73.
According to TipRanks.com, Freeman is a 4-star analyst with an average return of 5.5% and a 48.3% success rate. Freeman covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Occidental Petroleum, and Carrizo Oil & Gas.
Currently, the analyst consensus on Parsley Energy is a Moderate Buy with an average price target of $40.70, representing a 64.6% upside. In a report issued on October 29, IFS Securities, Inc also initiated coverage with a Buy rating on the stock with a $33 price target.
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Based on Parsley Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $113 million. In comparison, last year the company had a GAAP net loss of $13.33 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, 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.
