Parsley Energy (NYSE:PE) Reaching An Inflection Point; JP Morgan Coverage Initiated as Overweight


How JP Morgan Currently Rates Parsley Energy (NYSE:PE)

JP Morgan issued Overweight rating on Parsley Energy (NYSE:PE). The firm commenced coverage coverage on shares of PE in an interesting research report revealed to investors on Wednesday morning.

From a total of 25 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 $22.48 with a 10.53% above today’s ($19.56) stock price. Parsley Energy Inc was the topic of 24 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Nomura initiated shares on December 3 with “Buy” rating. RBC Capital Markets maintained shares with “Sector Perform” rating and $22 target share price in a report from a November 6. Bank of America initiated PE stock in a recent report from December 1 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, Iberia Capital Partners downgraded the stock to “Sector Perform” rating in a report issued on a November 12.

Approximately 386,683 shares of stock traded hands. Parsley Energy Inc (NYSE:PE) has risen 11.76% since May 6, 2015 and is uptrending. It has outperformed by 12.56% 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 turned 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 insider buys, and a total of 18 insider 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 $1.59 million. 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 $3.05 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 159.09 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).