The stock of Parsley Energy Inc (NYSE:PE) hit a new 52-week high and has $39.64 target or 6.00% above today’s $37.40 share price. The 9 months bullish chart indicates low risk for the $7.50B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $39.64 price target is reached, the company will be worth $450.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.11 million shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 34.26% since April 27, 2016 and is uptrending. It has outperformed by 29.03% the S&P500.
Analysts await Parsley Energy Inc (NYSE:PE) to report earnings on February, 22. They expect $0.07 earnings per share, up 450.00% or $0.09 from last year’s $-0.02 per share. PE’s profit will be $14.04 million for 133.57 P/E if the $0.07 EPS becomes a reality. After $0.03 actual earnings per share reported by Parsley Energy Inc for the previous quarter, Wall Street now forecasts 133.33% EPS growth.
Parsley Energy Inc (NYSE:PE) Ratings Coverage
Out of 28 analysts covering Parsley Energy Inc (NYSE:PE), 23 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 82% are positive. $48 is the highest target while $16 is the lowest. The $29.75 average target is -20.45% below today’s ($37.4) stock price. Parsley Energy Inc has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 25. Nomura initiated Parsley Energy Inc (NYSE:PE) on Thursday, December 3 with “Buy” rating. Macquarie Research downgraded the shares of PE in a report on Wednesday, October 12 to “Neutral” rating. On Thursday, October 29 the stock rating was initiated by Capital One with “Overweight”. The firm has “Buy” rating given on Wednesday, December 2 by Deutsche Bank. JP Morgan initiated Parsley Energy Inc (NYSE:PE) rating on Wednesday, December 9. JP Morgan has “Overweight” rating and $24 price target. JP Morgan maintained it with “Overweight” rating and $23 target price in Tuesday, March 15 report. On Tuesday, January 12 the stock rating was initiated by Topeka Capital Markets with “Buy”. The company was maintained on Friday, November 6 by Northland Capital. The rating was maintained by Macquarie Research with “Outperform” on Monday, September 21.
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 decreased to 1.38 in Q2 2016. Its down 0.68, from 2.06 in 2016Q1. The ratio turned negative, 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.
Analytic Investors Limited Liability Co has 0.03% invested in the company for 83,638 shares. Moreover, Picton Mahoney Asset has 0.49% invested in Parsley Energy Inc (NYSE:PE) for 292,300 shares. Graham Mgmt Ltd Partnership holds 1.31% or 941,394 shares in its portfolio. Morgan Stanley holds 0.01% or 656,569 shares in its portfolio. Waddell And Reed Financial last reported 2.01M shares in the company. Tph Asset Mngmt holds 0.05% of its portfolio in Parsley Energy Inc (NYSE:PE) for 18,300 shares. Vanguard Incorporated reported 10.67 million shares or 0.02% of all its holdings. Moreover, Gerstein Fisher has 0.16% invested in Parsley Energy Inc (NYSE:PE) for 44,092 shares. Nuveen Asset Limited Liability Company accumulated 0.1% or 601,623 shares. Chicago Equity Prtn Ltd Limited Liability Company holds 95,800 shares or 0.08% of its portfolio. Loomis Sayles L P holds 0.02% of its portfolio in Parsley Energy Inc (NYSE:PE) for 209,039 shares. Bnp Paribas Arbitrage Sa holds 0% or 792 shares in its portfolio. Stifel Fincl last reported 0% of its portfolio in the stock. King Luther Management Corp last reported 247,675 shares in the company. Moreover, Virginia Retirement Et Al has 0.01% invested in Parsley Energy Inc (NYSE:PE) for 17,100 shares.
Insider Transactions: Since June 2, 2016, the stock had 1 insider buy, and 21 selling transactions for $62.09 million net activity. Shares for $655,500 were sold by Hinson Mike. Shares for $1.59 million were sold by Dalton Ryan on Wednesday, June 15. $174,600 worth of Parsley Energy Inc (NYSE:PE) was sold by Roberts Colin on Friday, November 18. On Monday, August 8 Smith David Henry sold $206,188 worth of the stock or 6,250 shares. Sheffield Bryan also sold $35.37M worth of Parsley Energy Inc (NYSE:PE) shares. Gallagher Matthew had sold 45,000 shares worth $1.52M. ALAMEDDINE A R also bought $278,000 worth of Parsley Energy Inc (NYSE:PE) on Thursday, November 17.
Another recent and important Parsley Energy Inc (NYSE:PE) news was published by Prnewswire.com which published an article titled: “Parsley Energy Announces Third Quarter 2016 Financial And Operating Results …” on November 02, 2016.
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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