RBC Capital analyst Scott Hanold reiterated a Buy rating on Parsley Energy (NYSE: PE) on July 9 and set a price target of $40. The company’s shares closed yesterday at $32.07, close to its 52-week high of $33.43.
According to TipRanks.com, Hanold is a 4-star analyst with an average return of 4.2% and a 49.3% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Continental Resources.
Currently, the analyst consensus on Parsley Energy is a Strong Buy with an average price target of $43.33, a 35.1% upside from current levels. In a report issued on July 3, J.P. Morgan also maintained a Buy rating on the stock with a $49 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 5.64M.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative 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.
