Parsley Energy (PE) Gets a Buy Rating from Barclays


In a report released yesterday, Jeanine Wai from Barclays maintained a Buy rating on Parsley Energy (PE), with a price target of $10.00. The company’s shares closed last Monday at $5.74, close to its 52-week low of $3.92.

According to TipRanks.com, Wai is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -30.4% and a 15.7% success rate. Wai covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Occidental Petroleum.

Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $16.94, which is a 199.8% upside from current levels. In a report issued on March 9, Siebert Williams Shank & Co also upgraded the stock to Buy with a price target.

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Based on Parsley Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $522 million and GAAP net loss of $36.37 million. In comparison, last year the company earned revenue of $455 million and had a net profit of $53.77 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PE in relation to earlier this year.

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.

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