Bullish Options Activity on Parsley Energy Inc Surges After Better Fundamentals

 Bullish Options Activity on Parsley Energy Inc Surges After Better Fundamentals

In today’s session Parsley Energy Inc (PE) registered an unusually high (830) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious PE increase. With 830 contracts traded and 12184 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: PE161021C00032500 closed last at: $3.4 or 65.9% up. About 514,810 shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 80.77% since March 4, 2016 and is uptrending. It has outperformed by 72.73% the S&P500.

Analysts await Parsley Energy Inc (NYSE:PE) to report earnings on November, 2. They expect $0.03 earnings per share, up 137.50% or $0.11 from last year’s $-0.08 per share. PE’s profit will be $6.16M for 293.75 P/E if the $0.03 EPS becomes a reality. After $0.04 actual earnings per share 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. $48 is the highest target while $16 is the lowest. The $29.75 average target is -15.60% below today’s ($35.25) stock price. Parsley Energy Inc has been the topic of 57 analyst reports since July 21, 2015 according to StockzIntelligence Inc. FBR Capital initiated the stock with “Outperform” rating in Tuesday, September 13 report. UBS initiated the shares of PE in a report on Tuesday, December 15 with “Buy” rating. Evercore initiated it with “Buy” rating and $20 target price in Friday, October 2 report. The stock of Parsley Energy Inc (NYSE:PE) earned “Buy” rating by Stifel Nicolaus on Thursday, December 10. The rating was upgraded by Howard Weil on Monday, November 30 to “Focus Stock”. As per Friday, August 21, the company rating was maintained by Credit Suisse. The company was maintained on Thursday, February 25 by Topeka Capital Markets. Northland Capital maintained the stock with “Outperform” rating in Friday, November 6 report. The stock of Parsley Energy Inc (NYSE:PE) earned “Neutral” rating by Goldman Sachs on Tuesday, March 29. The firm has “Buy” rating given on Tuesday, June 14 by Deutsche Bank.

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 increased, 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.
Quantitative Investment Management Ltd Company accumulated 0.08% or 61,500 shares. Invesco Ltd last reported 2.16 million shares in the company. Moreover, Cipher Capital Limited Partnership has 0.33% invested in Parsley Energy Inc (NYSE:PE) for 171,633 shares. Btg Pactual Glob Asset Limited holds 51,550 shares or 1.51% of its portfolio. Wall Street Associate holds 10,521 shares or 0.11% of its portfolio. Redwood Ltd Llc has 1.6% invested in the company for 645,059 shares. Aperio Ltd Liability Co holds 0% or 15,453 shares in its portfolio. The Texas-based Avalon Advsrs Limited Liability has invested 0.08% in Parsley Energy Inc (NYSE:PE). Ameriprise Fincl holds 1.29 million shares or 0.02% of its portfolio. Chicago Equity Limited accumulated 0.08% or 95,800 shares. Raymond James Finance Inc has invested 0.01% of its portfolio in Parsley Energy Inc (NYSE:PE). The California-based California Public Employees Retirement Sys has invested 0% in Parsley Energy Inc (NYSE:PE). Jpmorgan Chase & Co has invested 0% of its portfolio in Parsley Energy Inc (NYSE:PE). Blackrock Advisors Ltd Liability Corporation reported 1.18 million shares or 0.03% of all its holdings. Los Angeles Management And Equity Rech Incorporated last reported 0.01% of its portfolio in the stock.

Insider Transactions: Since April 20, 2016, the stock had 0 buys, and 19 insider sales for $49.79 million net activity. 25,000 Parsley Energy Inc (NYSE:PE) shares with value of $660,000 were sold by Hinson Mike. Shares for $1.52 million were sold by Gallagher Matthew on Monday, August 22. Another trade for 6,250 shares valued at $206,188 was sold by Smith David Henry. Roberts Colin sold 25,000 shares worth $819,250. Shares for $254,200 were sold by Smith Brad C.. Shares for $1.59M were sold by Dalton Ryan on Wednesday, June 15. Shares for $35.37M were sold by Sheffield Bryan.

Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $7.24 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It currently has negative earnings. 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.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags:

Related posts

Leave a Comment