Mike Hinson Sells 25,000 Shares of Parsley Energy Inc. (PE) Stock
Parsley Energy Inc. (NYSE:PE) insider Mike Hinson sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $35.13, for a total value of $878,250.00. Following the transaction, the insider now directly owns 536,153 shares in the company, valued at $18,835,054.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Mike Hinson also recently made the following trade(s):
- On Monday, September 12th, Mike Hinson sold 25,000 shares of Parsley Energy stock. The shares were sold at an average price of $33.65, for a total value of $841,250.00.
- On Monday, July 25th, Mike Hinson sold 25,000 shares of Parsley Energy stock. The shares were sold at an average price of $27.42, for a total value of $685,500.00.
- On Tuesday, July 12th, Mike Hinson sold 25,000 shares of Parsley Energy stock. The shares were sold at an average price of $28.33, for a total value of $708,250.00.
Shares of Parsley Energy Inc. (NYSE:PE) opened at 35.35 on Friday. Parsley Energy Inc. has a 52-week low of $14.51 and a 52-week high of $35.93. The firm has a 50-day moving average of $33.50 and a 200-day moving average of $28.00. The company’s market cap is $6.05 billion.
Parsley Energy (NYSE:PE) last released 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. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. The business had revenue of $106.30 million for the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Parsley Energy’s revenue for the quarter was up 36.5% on a year-over-year basis. Equities research analysts forecast that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased its position in Parsley Energy by 93.8% in the second quarter. Thompson Davis & CO. Inc. now owns 3,875 shares of the company’s stock worth $105,000 after buying an additional 1,875 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Parsley Energy during the second quarter worth about $131,000. BlackRock Inc. increased its position in Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock worth $151,000 after buying an additional 3,814 shares in the last quarter. Loeb Partners Corp acquired a new position in Parsley Energy during the second quarter worth about $235,000. Finally, Penn Capital Management Co. Inc. acquired a new position in Parsley Energy during the second quarter worth about $252,000. Hedge funds and other institutional investors own 84.49% of the company’s stock.
A number of research analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $34.00 price objective (up from $30.00) on shares of Parsley Energy in a research note on Monday, July 18th. Imperial Capital initiated coverage on Parsley Energy in a research note on Tuesday, July 26th. They set an “outperform” rating and a $34.00 price objective on the stock. Zacks Investment Research cut Parsley Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Barclays PLC raised their target price on Parsley Energy from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, Goldman Sachs Group Inc. raised their target price on Parsley Energy from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.93.
About Parsley Energy
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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