Parsley Energy Inc (NYSE:PE) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 16,570,234 shares, a growth of 28.3% from the February 15th total of 12,911,649 shares. Approximately 14.5% of the company’s stock are short sold. Based on an average trading volume of 5,695,744 shares, the short-interest ratio is presently 2.9 days.
In other Parsley Energy news, Director Ron Brokmeyer bought 2,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average cost of $25.66 per share, with a total value of $51,320.00. Following the completion of the transaction, the director now directly owns 112,128 shares of the company’s stock, valued at approximately $2,877,204.48. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bryan Sheffield bought 189,500 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $26.34 per share, with a total value of $4,991,430.00. Following the completion of the transaction, the insider now directly owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The disclosure for this purchase can be found here. Insiders own 15.51% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PE. The Manufacturers Life Insurance Company increased its holdings in Parsley Energy by 13.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock valued at $228,000 after buying an additional 945 shares during the period. Pictet Asset Management Ltd. increased its holdings in Parsley Energy by 3.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 77,300 shares of the oil and natural gas company’s stock valued at $2,036,000 after buying an additional 2,700 shares during the period. Swiss National Bank increased its holdings in Parsley Energy by 0.8% in the 3rd quarter. Swiss National Bank now owns 815,600 shares of the oil and natural gas company’s stock valued at $21,483,000 after buying an additional 6,600 shares during the period. Bessemer Group Inc. increased its holdings in Parsley Energy by 36.5% in the 3rd quarter. Bessemer Group Inc. now owns 60,585 shares of the oil and natural gas company’s stock valued at $1,596,000 after buying an additional 16,185 shares during the period. Finally, Sei Investments Co. increased its holdings in Parsley Energy by 3.6% in the 3rd quarter. Sei Investments Co. now owns 130,852 shares of the oil and natural gas company’s stock valued at $3,447,000 after buying an additional 4,600 shares during the period. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The firm had revenue of $311.49 million during the quarter, compared to analysts’ expectations of $298.04 million. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The business’s quarterly revenue was up 99.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. equities analysts predict that Parsley Energy will post 1.23 earnings per share for the current year.
A number of brokerages have recently weighed in on PE. Credit Suisse Group began coverage on shares of Parsley Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $32.00 price objective for the company. Piper Jaffray Companies restated a “buy” rating and issued a $41.00 price objective on shares of Parsley Energy in a research note on Tuesday, January 9th. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Northland Securities set a $36.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.13.
COPYRIGHT VIOLATION WARNING: “Parsley Energy Inc (PE) Sees Significant Increase in Short Interest” was reported by Markets Daily and is the property of of Markets Daily. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.themarketsdaily.com/2018/03/14/parsley-energy-inc-pe-sees-significant-increase-in-short-interest.html.
Parsley Energy Company Profile
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses 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 includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.