Parsley Energy Inc. (PE) Insider Mike Hinson Sells 25,000 Shares
Parsley Energy Inc. (NYSE:PE) insider Mike Hinson sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $35.13, for a total value of $878,250.00. Following the transaction, the insider now owns 536,153 shares in the company, valued at approximately $18,835,054.89. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Mike Hinson also recently made the following trade(s):
- On Monday, September 12th, Mike Hinson sold 25,000 shares of Parsley Energy stock. The shares were sold at an average price of $33.65, for a total value of $841,250.00.
- On Monday, July 25th, Mike Hinson sold 25,000 shares of Parsley Energy stock. The shares were sold at an average price of $27.42, for a total value of $685,500.00.
- On Tuesday, July 12th, Mike Hinson sold 25,000 shares of Parsley Energy stock. The shares were sold at an average price of $28.33, for a total value of $708,250.00.
Parsley Energy Inc. (NYSE:PE) opened at 35.35 on Friday. The company’s market cap is $6.05 billion. The company has a 50-day moving average of $33.50 and a 200 day moving average of $28.00. Parsley Energy Inc. has a one year low of $14.51 and a one year high of $35.93.
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Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The firm earned $106.30 million during the quarter, compared to analyst estimates of $92.04 million. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. Parsley Energy’s revenue was up 36.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. Analysts anticipate that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. increased its stake in shares of Parsley Energy by 93.8% in the second quarter. Thompson Davis & CO. Inc. now owns 3,875 shares of the company’s stock valued at $105,000 after buying an additional 1,875 shares during the period. Public Employees Retirement Association of Colorado purchased a new stake in shares of Parsley Energy during the second quarter valued at $131,000. BlackRock Inc. increased its stake in Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock valued at $151,000 after buying an additional 3,814 shares during the last quarter. First American Bank bought a new stake in Parsley Energy during the third quarter valued at approximately $264,000. Finally, Loeb Partners Corp bought a new stake in Parsley Energy during the second quarter valued at approximately $235,000. Institutional investors own 84.49% of the company’s stock.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Thursday, June 30th. Barclays PLC lifted their price objective on Parsley Energy from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Wunderlich initiated coverage on Parsley Energy in a research report on Friday, June 17th. They set a “buy” rating and a $32.00 price objective on the stock. Imperial Capital lifted their price objective on Parsley Energy from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Finally, Piper Jaffray Cos. initiated coverage on Parsley Energy in a research report on Friday, July 8th. They set an “overweight” rating on the stock. Six investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $30.93.
Parsley Energy Company Profile
Parsley Energy, Inc is an independent oil and natural gas company. The Company 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.
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