In a report issued on November 11, Biju Perincheril from Susquehanna reiterated a Buy rating on Parsley Energy (PE), with a price target of $34. The company’s shares closed yesterday at $23.40.
According to TipRanks.com, Perincheril is a 4-star analyst with an average return of 8.4% and a 51.6% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Continental Resources, and Range Resources Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parsley Energy with a $40.45 average price target, implying a 72.9% upside from current levels. 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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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 4.42M.
Based on the recent corporate insider activity of 49 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.
