Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Buy rating on Parsley Energy (PE) on July 16 and set a price target of $18.00. The company’s shares closed last Thursday at $11.54.
According to TipRanks.com, Sorbara ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.3% and a 24.9% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Concho Resources.
Currently, the analyst consensus on Parsley Energy is a Strong Buy with an average price target of $14.79, implying a 29.2% upside from current levels. In a report issued on July 1, Credit Suisse also maintained a Buy rating on the stock with a $14.00 price target.
See today’s analyst top recommended stocks >>
Based on Parsley Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $565 million and GAAP net loss of $3.37 billion. In comparison, last year the company earned revenue of $428 million and had a GAAP net loss of $24.06 million.
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 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.
