Stock Analysis:Parsley Energy Inc (NYSE:PE) Target Upped
In a recent report distributed by KeyBanc Capital Markets on Thursday morning, Parsley Energy Inc (NYSE:PE) had its target price per share increased to $22.00. The firm right now has a solid Overweight rating on shares.
From a total of 26 analysts covering Parsley Energy Inc (NYSE:PE) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $26 while the lowest target price is $16. The mean of all analyst targets is $22.58 with a 17.78% above today’s ($18.5) stock price. Parsley Energy Inc was the topic of 25 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on December 9 with “Overweight” rating. RBC Capital Markets maintained shares with “Sector Perform” rating and $22 target share price in a report from a November 6. Deutsche Bank initiated PE stock in a recent report from December 2 with “Buy” rating. Northland Capital maintained the rating on November 6. Northland Capital has a “Outperform” rating and a $22 price target on shares. Finally, Howard Weil upgraded the stock to “Focus Stock” rating in a report issued on a November 30.
Approximately 7.34M shares of stock traded hands or 216.38% up from the average. Parsley Energy Inc (NYSE:PE) has risen 15.35% since May 7, 2015 and is uptrending. It has outperformed by 17.29% the S&P500.
The overall sentiment of institutions has decreased to 1.71 in Q2 2015. Its down 0.04, from 1.75 in 2015Q2. The ratio is negative, as 26 institutions have sold all the shares of Parsley Energy Inc that they owned while 25 funds have taken shares off the table. 23 funds have purchased shares for the first time while 64 added to their positions. These institutions now hold 100.14 million shares or 16.31% more than the 86.10 million shares they owned in 2015Q2.
The Fund G.F.W. Energy X L.P. currently is holding shares equating to 25.13% of its total portfolio in Parsley Energy Inc representing a total of 6.62 million shares. Another fund,Brenham Capital Management L.P., is holding a total of 3.40 million shares equating to 11.02% of their holdings. Additionally, Syntal Capital Partners Llc has a 338,152 share stake in Parsley Energy Inc which represents 7.16% of their total portfolio. The Fund, Zimmer Partners Lp, based out of New York, has also built up a stake in the stock, which represents a total of 6.43% of their total portfolio. Finally Arosa Capital Management Lp, a fund which is based in the state of New York reported a total holdings of 2.75 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 3, 2015, shareholders of Parsley Energy Inc have witnessed 0 buys, and a total of 18 sales equating to a net activity of approximately $13.62 million . Hinson Mike sold 20,000 shares worth approximately $338,000. Dalton Ryan sold 56,967 shares worth approximately $1.00 million. Treadwell Paul sold 150,000 shares worth approximately $2.44M. Gallagher Matthew sold 100,000 shares worth approximately $1.59M. The company insider Sheffield Bryan sold 20,000 shares worth $327,000.
Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $2.92 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 150.51 P/E ratio. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.” Get a free copy of the Zacks research report on Parsley Energy Inc (PE).