Short Interest in Parsley Energy Inc (NYSE:PE) Grows By 12.4%
Parsley Energy Inc (NYSE:PE) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 13,680,000 shares, a growth of 12.4% from the December 15th total of 12,170,000 shares. Approximately 5.1% of the company’s stock are short sold. Based on an average daily volume of 6,640,000 shares, the short-interest ratio is currently 2.1 days.
PE stock traded up $0.41 during trading on Thursday, reaching $18.09. The company had a trading volume of 166,618 shares, compared to its average volume of 5,568,867. The firm has a 50-day simple moving average of $17.59 and a 200-day simple moving average of $17.02. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.56 and a current ratio of 0.56. Parsley Energy has a twelve month low of $13.72 and a twelve month high of $22.11.
Parsley Energy (NYSE:PE) last released its earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.05). The company had revenue of $510.15 million during the quarter, compared to analyst estimates of $503.05 million. Parsley Energy had a return on equity of 4.96% and a net margin of 14.03%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. Sell-side analysts expect that Parsley Energy will post 1.2 earnings per share for the current year.
A number of brokerages have recently issued reports on PE. Imperial Capital reaffirmed an “outperform” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Parsley Energy in a research report on Wednesday. ValuEngine raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Citigroup cut their price objective on shares of Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Morgan Stanley cut their price objective on shares of Parsley Energy from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Parsley Energy in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.46.
In other news, Director Ron Brokmeyer acquired 5,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average price of $14.95 per share, with a total value of $74,750.00. Following the transaction, the director now directly owns 13,897 shares in the company, valued at $207,760.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Colin Roberts sold 10,000 shares of Parsley Energy stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $16.36, for a total transaction of $163,600.00. Following the completion of the transaction, the insider now directly owns 261,626 shares in the company, valued at approximately $4,280,201.36. The disclosure for this sale can be found here. Company insiders own 12.14% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. River & Mercantile Asset Management LLP acquired a new stake in Parsley Energy during the 2nd quarter valued at approximately $29,000. Quadrant Capital Group LLC lifted its stake in Parsley Energy by 214.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 1,484 shares during the period. First Quadrant L P CA acquired a new stake in Parsley Energy during the 3rd quarter valued at approximately $42,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Parsley Energy by 22.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after acquiring an additional 958 shares during the period. Finally, CSat Investment Advisory L.P. acquired a new stake in Parsley Energy during the 2nd quarter valued at approximately $112,000. Institutional investors own 79.14% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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