SunTrust Robinson analyst Neal Dingmann reiterated a Buy rating on Parsley Energy (PE) today and set a price target of $35. The company’s shares closed yesterday at $21.12, close to its 52-week low of $20.44.
According to TipRanks.com, Dingmann is a 1-star analyst with an average return of -2.4% and a 42.0% success rate. Dingmann covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Sanchez Energy Corporation.
Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $38.38, which is an 81.7% upside from current levels. In a report issued on November 15, Piper Jaffray also reiterated a Buy rating on the stock with a $34 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 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.
