Today’s Price Action: Could Parsley Energy Inc See a Reversal After This Very Strong Session?

Today's Price Action: Could Parsley Energy Inc See a Reversal After This Very Strong Session?

The stock of Parsley Energy Inc (NYSE:PE) is a huge mover today! About 4.19M shares traded hands or 38.74% up from the average. 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.
The move comes after 5 months positive chart setup for the $7.58 billion company. It was reported on Nov, 30 by Barchart.com. We have $39.31 PT which if reached, will make NYSE:PE worth $303.20M more.

Analysts await Parsley Energy Inc (NYSE:PE) to report earnings on February, 22. They expect $0.07 EPS, up 450.00% or $0.09 from last year’s $-0.02 per share. PE’s profit will be $14.05M for 135.04 P/E if the $0.07 EPS becomes a reality. After $0.03 actual EPS 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. Parsley Energy Inc has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Sector Outperform” rating given by Howard Weil on Monday, May 16. The firm earned “Buy” rating on Thursday, December 10 by Stifel Nicolaus. The rating was initiated by BMO Capital Markets on Friday, January 29 with “Outperform”. KeyBanc Capital Markets initiated Parsley Energy Inc (NYSE:PE) on Friday, August 14 with “Overweight” rating. On Friday, August 21 the stock rating was maintained by Credit Suisse with “Outperform”. RBC Capital Markets maintained it with “Outperform” rating and $27 target price in Thursday, February 25 report. As per Wednesday, August 12, the company rating was maintained by Oppenheimer. The firm earned “Market Perform” rating on Tuesday, September 8 by Cowen & Co. The firm has “Buy” rating by Clarkson Platou given on Tuesday, March 15. Nomura maintained the shares of PE in a report on Wednesday, August 17 with “Buy” rating.

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.
Chicago Equity Prns has 95,800 shares for 0.08% of their US portfolio. Tortoise Capital Advsr Ltd Liability has 233,256 shares for 0.04% of their US portfolio. State Board Of Administration Of Florida Retirement Systems holds 0.01% of its portfolio in Parsley Energy Inc (NYSE:PE) for 137,565 shares. Raveneur L P, a New York-based fund reported 172,678 shares. Tudor Invest Corporation Et Al accumulated 26,720 shares or 0.02% of the stock. Ardsley Advisory Prtnrs last reported 345,000 shares in the company. California State Teachers Retirement System, a California-based fund reported 327,999 shares. Blackrock Japan Limited has 0% invested in the company for 20,222 shares. Great West Life Assurance Can last reported 48,376 shares in the company. Aqr Cap Management Lc last reported 80,607 shares in the company. Mutual Of America Cap Mngmt Ltd Liability has invested 0.02% of its portfolio in Parsley Energy Inc (NYSE:PE). Moreover, Tiaa Cref Invest Ltd Limited Liability Company has 0.11% invested in Parsley Energy Inc (NYSE:PE) for 5.49M shares. Kelly Lawrence W Associates Inc Ca accumulated 1.95% or 311,450 shares. Airain Limited reported 115,706 shares or 0.18% of all its holdings. Lombard Odier Asset Management (Usa) accumulated 0.65% or 198,039 shares.

Insider Transactions: Since June 2, 2016, the stock had 1 buying transaction, and 21 selling transactions for $62.09 million net activity. On Thursday, November 17 the insider ALAMEDDINE A R bought $278,000. Dalton Ryan had sold 60,000 shares worth $1.59M. 1.10M Parsley Energy Inc (NYSE:PE) shares with value of $35.37M were sold by Sheffield Bryan. Smith David Henry sold $206,188 worth of stock or 6,250 shares. Hinson Mike sold $878,170 worth of stock. On Monday, August 22 Gallagher Matthew sold $1.52 million worth of the stock or 45,000 shares. 25,000 shares were sold by Roberts Colin, worth $819,250.

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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