Insider Buying: Parsley Energy Inc (PE) Director Buys 1,000 Shares of Stock

Parsley Energy Inc (NYSE:PE) Director A R. Alameddine purchased 1,000 shares of the stock in a transaction dated Friday, November 30th. The shares were acquired at an average price of $20.00 per share, with a total value of $20,000.00. Following the completion of the acquisition, the director now owns 123,643 shares in the company, valued at approximately $2,472,860. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

PE traded up $0.65 during mid-day trading on Monday, hitting $20.78. 7,752,900 shares of the stock were exchanged, compared to its average volume of 5,411,742. Parsley Energy Inc has a 1-year low of $19.98 and a 1-year high of $33.43. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 0.42 and a beta of -0.16.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $493.44 million. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. Parsley Energy’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. On average, research analysts forecast that Parsley Energy Inc will post 1.65 earnings per share for the current year.

A number of equities analysts have recently weighed in on PE shares. Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, August 8th. Williams Capital set a $38.00 price target on Parsley Energy and gave the stock a “hold” rating in a report on Wednesday, August 8th. Jefferies Financial Group increased their price target on Parsley Energy from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Piper Jaffray Companies reiterated a “buy” rating and set a $47.00 price target on shares of Parsley Energy in a report on Thursday, August 16th. Finally, KLR Group reiterated a “buy” rating and set a $43.00 price target on shares of Parsley Energy in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.22.

A number of hedge funds have recently bought and sold shares of PE. Envestnet Asset Management Inc. raised its position in Parsley Energy by 487.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock valued at $124,000 after purchasing an additional 3,376 shares in the last quarter. Brasada Capital Management LP acquired a new stake in Parsley Energy in the 3rd quarter valued at about $219,000. Nordea Investment Management AB raised its position in Parsley Energy by 64.6% in the 3rd quarter. Nordea Investment Management AB now owns 9,540 shares of the oil and natural gas company’s stock valued at $279,000 after purchasing an additional 3,745 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Parsley Energy in the 2nd quarter valued at about $286,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Parsley Energy in the 2nd quarter valued at about $307,000. 83.02% of the stock is currently owned by institutional investors.

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About Parsley Energy

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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