After RBC Capital and Siebert Williams Shank & Co gave Parsley Energy (NYSE: PE) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst John Freeman reiterated a Buy rating on Parsley Energy today and set a price target of $17.00. The company’s shares closed last Friday at $9.57.
According to TipRanks.com, Freeman has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -21.7% and a 20.2% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Black Stone Minerals.
Currently, the analyst consensus on Parsley Energy is a Moderate Buy with an average price target of $14.37, representing a 46.0% upside. In a report issued on October 22, Piper Sandler also maintained a Buy rating on the stock with a $14.00 price target.
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Based on Parsley Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $447 million and net profit of $22.64 million. In comparison, last year the company earned revenue of $510 million and had a net profit of $120 million.
Based on the recent corporate insider activity of 47 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. Most recently, in August 2020, Bryan Sheffield, the EC of PE sold 900,000 shares for a total of $10,674,000.
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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