Parsley Energy (PE) Gets a Buy Rating from Credit Suisse
Credit Suisse analyst William Featherston maintained a Buy rating on Parsley Energy (PE) on July 22. The company’s shares closed last Thursday at $11.04.
According to TipRanks.com, Featherston is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.6% and a 44.3% success rate. Featherston covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Concho Resources, and Cabot Oil & Gas.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parsley Energy with a $14.83 average price target, a 36.2% upside from current levels. In a report issued on July 8, Morgan Stanley also maintained a Buy rating on the stock with a $13.00 price target.
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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.
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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 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.