Williams Capital Keeps Their Hold Rating on Parsley Energy (PE)

By Austin Angelo

Williams Capital analyst Gabriele Sorbara maintained a Hold rating on Parsley Energy (PEResearch Report) today and set a price target of $22. The company’s shares opened today at $17.52.

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -11.0% and a 32.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

Parsley Energy has an analyst consensus of Strong Buy, with a price target consensus of $28, which is a 59.8% upside from current levels. In a report issued on January 29, Mizuho Securities also initiated coverage with 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 September 30, the company reported a quarterly net profit of $113 million. In comparison, last year the company had a net profit of $49.92 million.

Based on the recent corporate insider activity of 54 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.