Bryan Sheffield Sells 312,500 Shares of Parsley Energy Inc. (PE) Stock
Parsley Energy Inc. (NYSE:PE) insider Bryan Sheffield sold 312,500 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $34.89, for a total transaction of $10,903,125.00. Following the completion of the transaction, the insider now owns 13,033,741 shares in the company, valued at $454,747,223.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Parsley Energy Inc. (NYSE:PE) opened at 34.75 on Monday. The company has a 50 day moving average of $34.53 and a 200-day moving average of $30.16. The stock’s market capitalization is $6.24 billion. Parsley Energy Inc. has a 52-week low of $14.51 and a 52-week high of $37.20.
Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, November 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Parsley Energy had a negative net margin of 15.86% and a positive return on equity of 0.24%. The firm earned $132.67 million during the quarter, compared to the consensus estimate of $82.30 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. Parsley Energy’s revenue was up 106.6% compared to the same quarter last year. Equities research analysts anticipate that Parsley Energy Inc. will post $0.10 EPS for the current year.
Several equities analysts have weighed in on PE shares. Imperial Capital started coverage on shares of Parsley Energy in a report on Tuesday, July 26th. They issued an “outperform” rating and a $34.00 target price on the stock. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, August 3rd. Barclays PLC upped their price objective on shares of Parsley Energy from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Goldman Sachs Group Inc. upped their price objective on shares of Parsley Energy from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, Simmons restated an “overweight” rating and issued a $38.00 price objective (up from $33.00) on shares of Parsley Energy in a report on Saturday, August 13th. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.00.
Large investors have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC increased its stake in Parsley Energy by 0.5% in the third quarter. Mutual of America Capital Management LLC now owns 41,392 shares of the company’s stock worth $1,387,000 after buying an additional 202 shares during the last quarter. Gerstein Fisher boosted its position in shares of Parsley Energy by 0.7% in the third quarter. Gerstein Fisher now owns 44,419 shares of the company’s stock worth $1,488,000 after buying an additional 327 shares during the period. Public Employees Retirement Association of Colorado boosted its position in shares of Parsley Energy by 7.9% in the third quarter. Public Employees Retirement Association of Colorado now owns 5,233 shares of the company’s stock worth $175,000 after buying an additional 384 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Parsley Energy by 15.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,994 shares of the company’s stock worth $134,000 after buying an additional 535 shares during the period. Finally, Stifel Financial Corp boosted its position in shares of Parsley Energy by 3.1% in the second quarter. Stifel Financial Corp now owns 28,798 shares of the company’s stock worth $780,000 after buying an additional 854 shares during the period. Hedge funds and other institutional investors own 85.28% of the company’s stock.
Parsley Energy Company Profile
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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