In a report released today, Gabriele Sorbara from Siebert Williams Shank & Co reiterated a Hold rating on Parsley Energy (PE), with a price target of $20.00. The company’s shares closed last Monday at $17.22.
According to TipRanks.com, Sorbara has currently no stars on a ranking scale of 0-5 stars, with an average return of -18.6% and a 26.6% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Extraction Oil & Gas, Matador Resources, and Concho Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Parsley Energy with a $24.27 average price target.
See today’s analyst top recommended stocks >>
Based on Parsley Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $36.37 million. In comparison, last year the company had a net profit of $53.77 million.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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 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.
