Parsley Energy Inc. (NYSE:PE)’s share price rose 2.8% during trading on Thursday . The company traded as high as $28.38 and last traded at $27.96, with a volume of 2,111,300 shares. The stock had previously closed at $27.21.

PE has been the topic of a number of recent research reports. Northland Securities raised their price objective on Parsley Energy from $23.00 to $25.00 in a research note on Wednesday, April 6th. Canaccord Genuity restated a “buy” rating and set a $29.00 price objective (up previously from $23.00) on shares of Parsley Energy in a research note on Monday, April 11th. Credit Suisse Group AG restated a “buy” rating and set a $28.00 price objective on shares of Parsley Energy in a research note on Tuesday, May 10th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price objective (up previously from $25.00) on shares of Parsley Energy in a research note on Tuesday, May 17th. Finally, Topeka Capital Markets restated a “buy” rating and set a $27.00 price objective (up previously from $26.00) on shares of Parsley Energy in a research note on Tuesday, April 5th. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $27.07.

The company has a 50-day moving average of $27.17 and a 200 day moving average of $22.77. The company’s market cap is $4.49 billion.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. The business earned $62.30 million during the quarter, compared to analysts’ expectations of $75.16 million. During the same quarter last year, the business posted ($0.07) EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis.

In related news, insider Brad C. Smith sold 10,000 shares of the stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $25.42, for a total value of $254,200.00. Following the sale, the insider now owns 44,100 shares in the company, valued at $1,121,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan Dalton sold 60,000 shares of the stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $26.52, for a total value of $1,591,200.00. Following the completion of the sale, the insider now owns 253,961 shares in the company, valued at approximately $6,735,045.72. The disclosure for this sale can be found here.

Several large investors have modified their holdings of PE. Ashburton Jersey Ltd acquired a new stake in shares of Parsley Energy during the fourth quarter worth about $1,213,000. Monarch Partners Asset Management LLC increased its stake in shares of Parsley Energy by 54.0% in the fourth quarter. Monarch Partners Asset Management LLC now owns 585,154 shares of the company’s stock worth $10,796,000 after buying an additional 205,251 shares during the period. Swiss National Bank increased its stake in shares of Parsley Energy by 16.8% in the fourth quarter. Swiss National Bank now owns 135,500 shares of the company’s stock worth $2,500,000 after buying an additional 19,500 shares during the period. Marshall Wace LLP increased its stake in shares of Parsley Energy by 26.8% in the fourth quarter. Marshall Wace LLP now owns 233,199 shares of the company’s stock worth $4,303,000 after buying an additional 49,297 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Parsley Energy during the fourth quarter worth about $1,992,000.

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 over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

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