Short Interest in Parsley Energy Inc (NYSE:PE) Grows By 12.4%

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Parsley Energy Inc (NYSE:PE) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 13,680,000 shares, an increase of 12.4% from the December 15th total of 12,170,000 shares. Based on an average daily trading volume, of 6,640,000 shares, the short-interest ratio is currently 2.1 days. Approximately 5.1% of the company’s stock are sold short.

In other news, insider Colin Roberts sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.36, for a total value of $163,600.00. Following the transaction, the insider now owns 261,626 shares in the company, valued at $4,280,201.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ron Brokmeyer acquired 5,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of $14.95 per share, for a total transaction of $74,750.00. Following the transaction, the director now owns 13,897 shares of the company’s stock, valued at $207,760.15. The disclosure for this purchase can be found here. Corporate insiders own 12.14% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP purchased a new position in Parsley Energy during the second quarter valued at $29,000. Quadrant Capital Group LLC grew its stake in Parsley Energy by 214.8% during the third quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 1,484 shares in the last quarter. First Quadrant L P CA purchased a new position in Parsley Energy during the third quarter valued at $42,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Parsley Energy by 22.9% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after acquiring an additional 958 shares in the last quarter. Finally, CSat Investment Advisory L.P. purchased a new position in Parsley Energy during the second quarter valued at $112,000. 79.14% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on PE. TD Securities lowered their price objective on shares of Parsley Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley lowered their price objective on shares of Parsley Energy from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Robert W. Baird lowered their price objective on shares of Parsley Energy from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Co lowered their price objective on shares of Parsley Energy from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, January 9th. Finally, ValuEngine upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Parsley Energy currently has a consensus rating of “Buy” and a consensus target price of $26.46.

Shares of NYSE PE traded up $0.41 during midday trading on Thursday, reaching $18.09. The stock had a trading volume of 166,618 shares, compared to its average volume of 5,568,867. The stock has a 50-day moving average of $17.59 and a 200-day moving average of $17.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. Parsley Energy has a 12-month low of $13.72 and a 12-month high of $22.11.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). The firm had revenue of $510.15 million during the quarter, compared to analysts’ expectations of $503.05 million. Parsley Energy had a return on equity of 4.96% and a net margin of 14.03%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. As a group, analysts forecast that Parsley Energy will post 1.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 10th were paid a $0.03 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.66%. Parsley Energy’s dividend payout ratio (DPR) is presently 8.51%.

Parsley Energy Company Profile

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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