Why Has UBS Given Parsley Energy (NYSE:PE) a $23 Price Target
In an analyst note sent to investors and clients on 15 December, UBS analyst has today have commenced coverage coverage for Parsley Energy (NYSE:PE) shares with a “Buy” rating. The price target is $23.
From a total of 27 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 $22.78 with a 13.39% above today’s ($19.34) stock price. Parsley Energy Inc was the topic of 27 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus initiated shares on December 10 with “Buy” rating. Howard Weil upgraded shares to “Focus Stock” rating and $25 target share price in a report from a November 30. Nomura initiated PE stock in a recent report from December 3 with “Buy” rating. RBC Capital Markets maintained the rating on November 6. RBC Capital Markets has a “Sector Perform” rating and a $22 price target on shares. Finally, Bank of America initiated the stock with “Buy” rating in a report issued on a December 1.
The stock increased 3.64% or $0.68 on December 15, striking $19.34. Approximately 3.78M shares of stock traded hands or 33.10% up from the average. Parsley Energy Inc (NYSE:PE) has risen 16.63% since May 12, 2015 and is uptrending. It has outperformed by 20.30% 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 fall, 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 17 selling transactions equating to a net activity of approximately $12.95 million . Hinson Mike sold 20,000 shares worth approximately $338,000. Dalton Ryan sold 56,967 shares worth approximately $1.00M. Treadwell Paul sold 150,000 shares worth approximately $2.44 million. 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 $3.12 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It has 157.3 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.”