Parsley Energy Sees Unusually High Options Volume (PE)

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Parsley Energy Inc (NYSE:PE) was the target of some unusual options trading on Wednesday. Investors bought 3,310 put options on the stock. This represents an increase of 1,859% compared to the average volume of 169 put options.

In other Parsley Energy news, insider Colin Roberts sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $20.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now owns 271,926 shares in the company, valued at approximately $5,438,520. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bryan Sheffield sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $20.24, for a total value of $2,024,000.00. Following the sale, the insider now owns 8,801,632 shares of the company’s stock, valued at approximately $178,145,031.68. The disclosure for this sale can be found here. Company insiders own 12.14% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PE. Cullen Frost Bankers Inc. bought a new stake in shares of Parsley Energy in the 1st quarter worth approximately $37,000. Tyers Asset Management LLC bought a new stake in shares of Parsley Energy in the 1st quarter worth approximately $53,000. Cresset Asset Management LLC bought a new stake in shares of Parsley Energy in the 1st quarter worth approximately $64,000. Quadrant Capital Group LLC lifted its holdings in shares of Parsley Energy by 462.5% in the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock worth $71,000 after purchasing an additional 3,136 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Parsley Energy by 15.0% in the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock worth $88,000 after purchasing an additional 719 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

A number of equities research analysts have weighed in on PE shares. Zacks Investment Research lowered Parsley Energy from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. Williams Capital restated a “hold” rating and set a $22.00 price objective on shares of Parsley Energy in a research note on Monday, February 11th. Northland Securities restated a “buy” rating and set a $29.00 price objective on shares of Parsley Energy in a research note on Friday, February 22nd. Stifel Nicolaus set a $55.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, Robert W. Baird set a $24.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Friday, February 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.87.

Shares of PE opened at $17.23 on Thursday. The company has a market capitalization of $5.72 billion, a PE ratio of 12.22, a PEG ratio of 0.31 and a beta of 0.50. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.36. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.25.

Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $427.67 million during the quarter, compared to analyst estimates of $410.04 million. Parsley Energy had a return on equity of 6.05% and a net margin of 14.09%. Parsley Energy’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. Equities analysts expect that Parsley Energy will post 1.6 earnings per share for the current year.

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About Parsley Energy

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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