Analysts Offer Insights on Materials Companies: Parsley Energy (NYSE: PE) and Tenaris SA (NYSE: TS)

By Jason Carr

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Parsley Energy (NYSE: PE) and Tenaris SA (NYSE: TS) with bullish sentiments.

Parsley Energy (NYSE: PE)

In a report issued on September 21, Kashy Harrison from Piper Jaffray reiterated a Buy rating on Parsley Energy (NYSE: PE), with a price target of $34. The company’s shares closed on Friday at $26.76.

According to TipRanks.com, Harrison is ranked 0 out of 5 stars with an average return of -17.5% and a 21.6% success rate. Harrison covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Whiting Petroleum Corp, and Continental Resources.

Currently, the analyst consensus on Parsley Energy is Strong Buy and the average price target is $38.25, representing a 42.9% upside.

In a report issued on September 7, RBC Capital also reiterated a Buy rating on the stock with a $37 price target.
Tenaris SA (NYSE: TS)

Piper Jaffray analyst Ian Macpherson reiterated a Buy rating on Tenaris SA (NYSE: TS) on September 22 and set a price target of $31.75. The company’s shares closed on Friday at $28.85.

According to TipRanks.com, Macpherson is a 1-star analyst with an average return of -2.1% and a 34.6% success rate. Macpherson covers the Basic Materials sector, focusing on stocks such as Ncs Multistage Holdings Inc, Select Energy Services Inc, and Diamond Offshore Drilling.

Tenaris SA has an analyst consensus of Moderate Buy, with a price target consensus of $33.06.

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.