Parsley Energy Inc. (PE) Sets New 12-Month High at $28.10
Shares of Parsley Energy Inc. (NYSE:PE) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $28.10 and last traded at $27.71, with a volume of 1,354,757 shares trading hands. The stock had previously closed at $27.38.
A number of analysts have recently issued reports on PE shares. Deutsche Bank AG boosted their price objective on Parsley Energy from $24.00 to $26.00 in a research report on Wednesday, March 23rd. JPMorgan Chase & Co. restated a “buy” rating on shares of Parsley Energy in a research report on Wednesday, March 16th. Clarkson Capital upgraded Parsley Energy from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 15th. Topeka Capital Markets restated a “buy” rating and set a $27.00 price objective (up from $26.00) on shares of Parsley Energy in a research report on Tuesday, April 5th. Finally, Northland Securities boosted their price objective on Parsley Energy from $23.00 to $25.00 in a research report on Wednesday, April 6th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Parsley Energy currently has an average rating of “Buy” and an average target price of $26.04.
The firm’s market capitalization is $4.48 billion. The stock has a 50 day moving average of $26.59 and a 200 day moving average of $21.90.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. During the same quarter in the previous year, the business posted ($0.07) EPS. The business earned $62.30 million during the quarter, compared to the consensus estimate of $75.16 million. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts predict that Parsley Energy Inc. will post ($0.01) EPS for the current fiscal year.
In related news, VP Mike Hinson sold 25,000 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $23.47, for a total transaction of $586,750.00. Following the sale, the vice president now owns 821,653 shares of the company’s stock, valued at approximately $19,284,195.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brad C. Smith sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $25.42, for a total value of $254,200.00. Following the sale, the insider now directly owns 44,100 shares in the company, valued at approximately $1,121,022. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in PE. Russell Frank Co increased its stake in Parsley Energy by 113.6% in the fourth quarter. Russell Frank Co now owns 160,935 shares of the company’s stock valued at $2,843,000 after buying an additional 85,593 shares during the period. California State Teachers Retirement System increased its stake in Parsley Energy by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 171,118 shares of the company’s stock valued at $3,157,000 after buying an additional 2,789 shares during the period. Swiss National Bank increased its stake in Parsley Energy by 16.8% in the fourth quarter. Swiss National Bank now owns 135,500 shares of the company’s stock valued at $2,500,000 after buying an additional 19,500 shares during the period. Sei Investments Co. purchased a new stake in Parsley Energy during the fourth quarter valued at $2,644,000. Finally, First Trust Advisors LP purchased a new stake in Parsley Energy during the fourth quarter valued at $2,343,000.
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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