Investors Purchase High Volume of Put Options on Parsley Energy (PE)
Parsley Energy, Inc. (NYSE:PE) was the target of some unusual options trading activity on Friday. Traders bought 22,043 put options on the company. This is an increase of approximately 1,543% compared to the average volume of 1,342 put options.
In other Parsley Energy news, insider Colin Roberts sold 3,400 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $102,000.00. Following the transaction, the insider now owns 229,326 shares of the company’s stock, valued at approximately $6,879,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.51% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. raised its position in shares of Parsley Energy by 132.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 292,078 shares of the oil and natural gas company’s stock valued at $10,291,000 after buying an additional 166,206 shares in the last quarter. Creative Planning raised its position in shares of Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock valued at $147,000 after buying an additional 4,425 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Parsley Energy by 41.9% in the first quarter. Gulf International Bank UK Ltd now owns 67,142 shares of the oil and natural gas company’s stock valued at $2,182,000 after buying an additional 19,842 shares in the last quarter. Bank of Montreal Can raised its position in shares of Parsley Energy by 99.6% in the first quarter. Bank of Montreal Can now owns 155,539 shares of the oil and natural gas company’s stock valued at $5,058,000 after buying an additional 77,602 shares in the last quarter. Finally, Atria Investments LLC bought a new position in shares of Parsley Energy during the first quarter valued at approximately $319,000. Institutional investors own 91.86% of the company’s stock.
A number of analysts have recently weighed in on the stock. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Monday, July 17th. BMO Capital Markets set a $40.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Thursday, May 4th. UBS AG restated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Parsley Energy in a report on Friday, May 5th. Barclays PLC lowered their price target on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. Finally, BidaskClub cut shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.65.
Shares of Parsley Energy (NYSE PE) opened at 24.79 on Monday. Parsley Energy has a 1-year low of $24.25 and a 1-year high of $39.82. The company has a 50-day moving average of $27.25 and a 200-day moving average of $29.74. The firm has a market capitalization of $6.14 billion, a PE ratio of 138.49 and a beta of -0.09.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The company had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share. Equities research analysts predict that Parsley Energy will post $0.51 EPS for the current fiscal year.
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About Parsley Energy
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.
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