Parsley Energy Inc. (PE) Trading 2.8% Higher
Parsley Energy Inc. (NYSE:PE) traded up 2.8% during trading on Thursday . The stock traded as high as $28.38 and last traded at $27.96, with a volume of 2,111,300 shares changing hands. The stock had previously closed at $27.21.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Canaccord Genuity restated a “buy” rating and issued a $29.00 price target on shares of Parsley Energy in a report on Thursday, May 5th. Northland Securities boosted their price target on shares of Parsley Energy from $23.00 to $25.00 in a report on Wednesday, April 6th. Deutsche Bank AG boosted their price target on shares of Parsley Energy from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Finally, Simmons assumed coverage on shares of Parsley Energy in a report on Friday, July 8th. They issued an “overweight” rating and a $31.00 price target for the company. Five 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 company. The stock has an average rating of “Buy” and an average price target of $27.07.
The company’s market capitalization is $4.40 billion. The firm has a 50-day moving average price of $27.11 and a 200-day moving average price of $22.64.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. The company earned $62.30 million during the quarter, compared to analysts’ expectations of $75.16 million. During the same quarter in the prior year, the company earned ($0.07) EPS. The firm’s revenue was up 12.9% compared to the same quarter last year.
In other Parsley Energy news, insider Ryan Dalton sold 60,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 253,961 shares of the company’s stock, valued at approximately $6,735,045.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mike Hinson sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $23.69, for a total value of $592,250.00. Following the completion of the transaction, the vice president now directly owns 796,653 shares in the company, valued at $18,872,709.57. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the stock. Ashburton Jersey Ltd purchased a new stake in Parsley Energy during the fourth quarter valued at about $1,213,000. Trexquant Investment LP purchased a new stake in Parsley Energy during the fourth quarter valued at about $1,992,000. US Bancorp DE raised its stake in Parsley Energy by 50.7% in the fourth quarter. US Bancorp DE now owns 108,252 shares of the company’s stock valued at $1,997,000 after buying an additional 36,401 shares in the last quarter. Rhumbline Advisers raised its stake in Parsley Energy by 17.9% in the fourth quarter. Rhumbline Advisers now owns 112,421 shares of the company’s stock valued at $2,074,000 after buying an additional 17,080 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in Parsley Energy during the fourth quarter valued at about $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 over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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