Parsley Energy Inc. (PE) Hits New 1-Year High at $35.00
Parsley Energy Inc. (NYSE:PE) hit a new 52-week high during trading on Monday . The company traded as high as $35.00 and last traded at $34.86, with a volume of 2,914,300 shares trading hands. The stock had previously closed at $34.29.
A number of brokerages have commented on PE. Wells Fargo & Co. reiterated a “hold” rating on shares of Parsley Energy in a report on Saturday, June 4th. Stifel Nicolaus restated a “buy” rating and set a $34.00 price objective (up previously from $30.00) on shares of Parsley Energy in a report on Monday, July 18th. Imperial Capital raised their price objective on Parsley Energy from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Scotiabank upgraded Parsley Energy to an “outperform” rating and raised their price objective for the stock from $27.00 to $29.00 in a report on Tuesday, May 17th. Finally, Zacks Investment Research cut Parsley Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Parsley Energy has a consensus rating of “Buy” and a consensus target price of $30.47.
The company’s market capitalization is $5.97 billion. The company’s 50-day moving average price is $31.41 and its 200 day moving average price is $25.49.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.10. The company had revenue of $106.30 million for the quarter, compared to analysts’ expectations of $92.04 million. During the same period in the previous year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 36.5% compared to the same quarter last year. Analysts predict that Parsley Energy Inc. will post $0.11 EPS for the current year.
In related news, insider Matthew Gallagher sold 5,400 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $33.74, for a total value of $182,196.00. Following the completion of the sale, the insider now directly owns 637,006 shares in the company, valued at $21,492,582.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Colin Roberts sold 25,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $32.77, for a total transaction of $819,250.00. Following the transaction, the vice president now directly owns 243,770 shares of the company’s stock, valued at approximately $7,988,342.90. The disclosure for this sale can be found here.
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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