Parsley Energy Inc. (PE) Sets New 1-Year High at $32.55
Parsley Energy Inc. (NYSE:PE) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.55 and last traded at $32.16, with a volume of 6,285,037 shares changing hands. The stock had previously closed at $28.47.
Several research analysts have issued reports on PE shares. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday. Credit Suisse Group AG restated a “buy” rating and set a $28.00 price target on shares of Parsley Energy in a report on Tuesday, May 10th. Barclays PLC assumed coverage on shares of Parsley Energy in a research report on Tuesday, June 21st. They set an “overweight” rating and a $30.00 price objective for the company. Deutsche Bank AG raised their price objective on shares of Parsley Energy from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Finally, Morgan Stanley assumed coverage on shares of Parsley Energy in a research report on Thursday, July 21st. They set an “overweight” rating and a $39.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Parsley Energy currently has a consensus rating of “Buy” and a consensus price target of $27.10.
The company’s market capitalization is $5.03 billion. The firm’s 50-day moving average price is $27.28 and its 200-day moving average price is $23.06.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.10. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The company earned $106.30 million during the quarter, compared to the consensus estimate of $92.04 million. Parsley Energy’s revenue was up 36.5% compared to the same quarter last year.
In related news, 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 transaction of $1,591,200.00. Following the sale, the insider now directly owns 253,961 shares of the company’s stock, valued at $6,735,045.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brad C. Smith sold 10,000 shares of the 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 $1,121,022. The disclosure for this sale can be found here.
Several large investors have added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new stake in Parsley Energy during the fourth quarter valued at approximately $2,343,000. Trexquant Investment LP acquired a new stake in Parsley Energy during the fourth quarter valued at approximately $1,992,000. Russell Frank Co boosted 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. Ashburton Jersey Ltd acquired a new stake in Parsley Energy during the fourth quarter valued at approximately $1,213,000. Finally, Marshall Wace LLP boosted its stake in Parsley Energy by 26.8% in the fourth quarter. Marshall Wace LLP now owns 233,199 shares of the company’s stock valued at $4,303,000 after buying an additional 49,297 shares during the period.
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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