The stock of Parsley Energy Inc (NYSE:PE) reached all time high today, Oct, 6 and still has $54.92 target or 57.00% above today’s $34.98 share price. This indicates more upside for the $7.52 billion company. This technical setup was reported by Barchart.com. If the $54.92 PT is reached, the company will be worth $4.29 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 492,310 shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 91.15% since March 3, 2016 and is uptrending. It has outperformed by 82.81% the S&P500.
Analysts await Parsley Energy Inc (NYSE:PE) to report earnings on November, 2. They expect $0.03 EPS, up 137.50% or $0.11 from last year’s $-0.08 per share. PE’s profit will be $6.45 million for 291.50 P/E if the $0.03 EPS becomes a reality. After $0.04 actual EPS reported by Parsley Energy Inc for the previous quarter, Wall Street now forecasts -25.00% negative EPS growth.
Parsley Energy Inc (NYSE:PE) Ratings Coverage
Out of 28 analysts covering Parsley Energy Inc (NYSE:PE), 24 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 86% are positive. Parsley Energy Inc has been the topic of 57 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Canaccord Genuity on Tuesday, October 20. The company was initiated on Friday, October 9 by Iberia Capital Partners. The stock of Parsley Energy Inc (NYSE:PE) earned “Buy” rating by Evercore on Friday, October 2. The rating was initiated by FBR Capital with “Outperform” on Tuesday, September 13. JP Morgan maintained the shares of PE in a report on Tuesday, March 15 with “Overweight” rating. The stock of Parsley Energy Inc (NYSE:PE) has “Hold” rating given on Monday, August 29 by Williams Capital Group. The company was upgraded on Friday, August 14 by Howard Weil. The firm has “Buy” rating by UBS given on Tuesday, December 15. The company was maintained on Friday, November 6 by Northland Capital. As per Monday, May 16, the company rating was downgraded by Howard Weil.
According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.”
Insitutional Activity: The institutional sentiment increased to 2.06 in 2016 Q2. Its up 0.07, from 1.99 in 2016Q1. The ratio improved, as 26 funds sold all Parsley Energy Inc shares owned while 54 reduced positions. 76 funds bought stakes while 89 increased positions. They now own 148.38 million shares or 18.17% more from 125.56 million shares in 2016Q1.
State Street has 0.01% invested in the company for 2.97 million shares. Scholtz Limited Liability holds 146,485 shares or 4.08% of its portfolio. Weiss Multi reported 75,059 shares or 0.16% of all its holdings. Allianz Asset Ag, a Germany-based fund reported 401,402 shares. Northern Trust Corp owns 915,307 shares or 0.01% of their US portfolio. Redwood Investments Ltd Liability Corporation has 645,059 shares for 1.6% of their US portfolio. The Japan-based Blackrock Japan Limited has invested 0% in Parsley Energy Inc (NYSE:PE). Jp Marvel Invest Advisors Ltd Limited Liability Company accumulated 37,846 shares or 0.36% of the stock. Alpine Prtn Vi Ltd has 24,107 shares for 0.3% of their US portfolio. Point72 Asia (Hong Kong) has 0.08% invested in the company for 2,400 shares. Legal And General Group Public Ltd last reported 10,741 shares in the company. Loomis Sayles & L P, a Massachusetts-based fund reported 209,039 shares. Schwab Charles Invest holds 0.01% or 281,319 shares in its portfolio. Wellington Management Group Ltd Liability Partnership accumulated 2.71M shares or 0.02% of the stock. Nikko Asset Mgmt Americas holds 11,500 shares or 0.03% of its portfolio.
Insider Transactions: Since April 20, 2016, the stock had 0 insider purchases, and 19 selling transactions for $49.79 million net activity. Hinson Mike sold $592,250 worth of stock or 25,000 shares. Sheffield Bryan also sold $35.37M worth of Parsley Energy Inc (NYSE:PE) shares. On Thursday, May 12 Smith Brad C. sold $254,200 worth of the stock or 10,000 shares. Gallagher Matthew also sold $1.52M worth of Parsley Energy Inc (NYSE:PE) on Monday, August 22. Another trade for 6,250 shares valued at $206,188 was sold by Smith David Henry. 60,000 shares were sold by Dalton Ryan, worth $1.59 million on Wednesday, June 15. On Monday, August 8 Roberts Colin sold $819,250 worth of the stock or 25,000 shares.
PE Company Profile
Parsley Energy, Inc., incorporated on December 11, 2013, is an independent oil and natural gas company. The Firm 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. The Company’s properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Company’s vertical wells in the Permian Basin are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations.
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