Williams Capital analyst Gabriele Sorbara maintained a Hold rating on Parsley Energy (PE) on August 19 and set a price target of $20. The company’s shares closed last Monday at $16.70.
According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -14.9% and a 29.3% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Gulfport Energy Corp, and Extraction Oil & Gas.
Currently, the analyst consensus on Parsley Energy is a Strong Buy with an average price target of $23.50, a 42.9% upside from current levels. In a report issued on August 14, Morgan Stanley also maintained a Hold rating on the stock with a $22 price target.
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Based on Parsley Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $116 million. In comparison, last year the company had a net profit of $119 million.
Based on the recent corporate insider activity of 46 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 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.
