In a report released today, Jeff Grampp from Northland Securities maintained a Buy rating on Parsley Energy (PE), with a price target of $26. The company’s shares closed yesterday at $14.13, close to its 52-week low of $13.72.
According to TipRanks.com, Grampp is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -17.9% and a 18.7% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Parsley Energy with a $23.33 average price target, representing a 65.1% upside. In a report issued on July 29, Raymond James also maintained a Buy rating on the stock with a $25 price target.
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Parsley Energy’s market cap is currently $3.97B and has a P/E ratio of 14.87. The company has a Price to Book ratio of 0.71.
Based on the recent corporate insider activity of 48 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.