Parsley Energy Inc. (PE) Hits New 1-Year High at $33.24
Shares of Parsley Energy Inc. (NYSE:PE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.24 and last traded at $32.86, with a volume of 1,541,220 shares traded. The stock had previously closed at $32.68.
Several analysts recently issued reports on PE shares. Zacks Investment Research upgraded Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, June 30th. Credit Suisse Group AG reiterated a “buy” rating and set a $28.00 target price on shares of Parsley Energy in a report on Tuesday, May 10th. Canaccord Genuity reiterated a “buy” rating and set a $29.00 target price on shares of Parsley Energy in a report on Thursday, May 5th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective (up previously from $25.00) on shares of Parsley Energy in a research note on Tuesday, May 17th. Finally, Wunderlich assumed coverage on Parsley Energy in a research note on Friday, June 17th. They issued a “buy” rating and a $32.00 price objective on the stock. Four investment 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 stock. Parsley Energy presently has a consensus rating of “Buy” and a consensus target price of $27.76.
The stock’s market capitalization is $5.62 billion. The company’s 50-day moving average price is $27.98 and its 200 day moving average price is $23.53.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The company had revenue of $106.30 million for the quarter, compared to the consensus estimate of $92.04 million. The company’s revenue for the quarter was up 36.5% compared to the same quarter last year. On average, equities analysts predict that Parsley Energy Inc. will post $0.04 earnings per share for the current fiscal year.
In other Parsley Energy news, insider Mike Hinson sold 25,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $27.42, for a total transaction of $685,500.00. Following the sale, the insider now owns 646,653 shares of the company’s stock, valued at approximately $17,731,225.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brad C. Smith sold 10,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $25.42, for a total transaction 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.
Other large investors have modified their holdings of the company. Ashburton Jersey Ltd acquired a new stake in shares of Parsley Energy during the fourth quarter worth about $1,213,000. Trexquant Investment LP acquired a new stake in shares of Parsley Energy during the fourth quarter worth about $1,992,000. US Bancorp DE boosted its stake in shares of Parsley Energy by 50.7% in the fourth quarter. US Bancorp DE now owns 108,252 shares of the company’s stock worth $1,997,000 after buying an additional 36,401 shares during the last quarter. Swiss National Bank boosted 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 last quarter. Finally, Russell Frank Co boosted its stake in shares of Parsley Energy by 113.6% in the fourth quarter. Russell Frank Co now owns 160,935 shares of the company’s stock worth $2,843,000 after buying an additional 85,593 shares during the last quarter.
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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