There’s a lot to be optimistic about in the Utilities sector as 3 analysts just weighed in on Parsley Energy (PE), Earthstone Energy (ESTE) and PDC Energy (PDCE) with bullish sentiments.
Parsley Energy (PE)
In a report issued on August 6, Scott Hanold from RBC Capital maintained a Buy rating on Parsley Energy, with a price target of $14.00. The company’s shares closed last Friday at $11.25.
According to TipRanks.com, Hanold has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -14.0% and a 32.4% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Southwestern Energy, and Matador Resources.
Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $15.00, implying a 35.9% upside from current levels. In a report issued on July 22, Credit Suisse also maintained a Buy rating on the stock.
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Earthstone Energy (ESTE)
RBC Capital analyst Brad Heffern maintained a Buy rating on Earthstone Energy on August 6 and set a price target of $5.00. The company’s shares closed last Friday at $3.01.
According to TipRanks.com, Heffern is a 2-star analyst with an average return of 0.0% and a 42.0% success rate. Heffern covers the Utilities sector, focusing on stocks such as Continental Resources, Par Pacific Holdings, and Extraction Oil & Gas.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Earthstone Energy with a $4.70 average price target, which is a 58.8% upside from current levels. In a report issued on August 6, Northland Securities also assigned a Buy rating to the stock with a $4.50 price target.
PDC Energy (PDCE)
In a report issued on August 7, William S. Thompson from Barclays maintained a Buy rating on PDC Energy, with a price target of $22.00. The company’s shares closed last Friday at $15.98.
According to TipRanks.com, Thompson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -10.2% and a 32.6% success rate. Thompson covers the Utilities sector, focusing on stocks such as Viper Energy, WPX Energy, and SM Energy.
Currently, the analyst consensus on PDC Energy is a Strong Buy with an average price target of $20.93, implying a 30.6% upside from current levels. In a report issued on August 6, Stifel Nicolaus also maintained a Buy rating on the stock with a $24.00 price target.
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