Today’s Price Action: Is Parsley Energy Inc a Buy? The Stock Rises Again

Today's Price Action: Is Parsley Energy Inc a Buy? The Stock Rises Again

The stock of Parsley Energy Inc (NYSE:PE) is a huge mover today! About 1.07M shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 87.62% since March 8, 2016 and is uptrending. It has outperformed by 78.31% the S&P500.
The move comes after 5 months positive chart setup for the $7.79 billion company. It was reported on Oct, 11 by We have $61.47 PT which if reached, will make NYSE:PE worth $5.22 billion more.

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 $6.35M for 306.75 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 company was initiated on Friday, June 17 by Wunderlich. Topeka Capital Markets initiated it with “Buy” rating and $24.0 target price in Tuesday, January 12 report. The firm has “Outperform” rating given on Friday, October 9 by Iberia Capital Partners. The rating was initiated by Canaccord Genuity with “Buy” on Tuesday, October 20. Macquarie Research maintained Parsley Energy Inc (NYSE:PE) on Monday, September 21 with “Outperform” rating. Credit Suisse maintained the stock with “Outperform” rating in Friday, August 21 report. The rating was downgraded by Iberia Capital Partners on Thursday, November 12 to “Sector Perform”. As per Friday, August 26, the company rating was maintained by UBS. On Monday, August 15 the stock rating was maintained by JP Morgan with “Overweight”. The stock of Parsley Energy Inc (NYSE:PE) earned “Overweight” rating by KeyBanc Capital Markets on Friday, August 14.

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 Q2 2016. Its up 0.07, from 1.99 in 2016Q1. The ratio is positive, 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.
Royal Bank Of Canada accumulated 512,833 shares or 0.01% of the stock. Synovus Financial has 0% invested in the company for 167 shares. Tiaa Cref Mngmt Limited Liability Company owns 5.49M shares or 0.11% of their US portfolio. Fmr accumulated 0.02% or 5.15M shares. Sheets Smith Wealth Management accumulated 41,995 shares or 0.33% of the stock. Gradient Investments Ltd holds 0.05% of its portfolio in Parsley Energy Inc (NYSE:PE) for 18,611 shares. Gerstein Fisher owns 44,092 shares or 0.16% of their US portfolio. Mutual Of America Capital Mngmt Lc has 41,190 shares for 0.02% of their US portfolio. Ardsley Advisory Prtn last reported 345,000 shares in the company. Analytic Invsts Ltd holds 0.03% or 83,638 shares in its portfolio. Legal & General Gp Public Limited Com last reported 10,741 shares in the company. Glg Limited Partnership holds 180,558 shares or 0.15% of its portfolio. California Public Employees Retirement System, a California-based fund reported 35,200 shares. Picton Mahoney Asset has invested 0.49% of its portfolio in Parsley Energy Inc (NYSE:PE). Envestnet Asset Incorporated accumulated 3,035 shares or 0% of the stock.

Insider Transactions: Since April 20, 2016, the stock had 0 buys, and 20 insider sales for $50.67 million net activity. 25,000 shares were sold by Hinson Mike, worth $685,500. Smith David Henry also sold $206,188 worth of Parsley Energy Inc (NYSE:PE) shares. Roberts Colin sold $819,250 worth of stock or 25,000 shares. Dalton Ryan sold $1.59 million worth of stock or 60,000 shares. On Monday, August 8 Sheffield Bryan sold $35.37M worth of the stock or 1.10 million shares. $1.52 million worth of Parsley Energy Inc (NYSE:PE) was sold by Gallagher Matthew. Smith Brad C. had sold 10,000 shares worth $254,200 on Thursday, May 12.

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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