Parsley Energy Inc (PE) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Oct 12, 2016.
Many Wall Street Analysts have commented on Parsley Energy Inc. FBR & Co. Initiated Parsley Energy Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $41.FBR Capital Initiated Parsley Energy Inc on Sep 13, 2016 to “Outperform”, Price Target of the shares are set at $41.Williams Capital Group Initiated Parsley Energy Inc on Aug 29, 2016 to “Hold”, Price Target of the shares are set at $37.
On the company’s financial health, Parsley Energy Inc reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.02. The company had revenue of $106.30 million for the quarter, compared to analysts expectations of $99.96 million. The company’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.
Parsley Energy Inc opened for trading at $36.23 and hit $37.04 on the upside on Tuesday, eventually ending the session at $36.54, with a gain of 0.86% or 0.31 points. The heightened volatility saw the trading volume jump to 43,51,794 shares. Company has a market cap of $7,280 M.
In a different news, on Oct 7, 2016, Mike Hinson (officer ) sold 25,000 shares at $35.17 per share price. According to the SEC, on Aug 24, 2016, Matthew Gallagher (officer ) sold 45,000 shares at $33.82 per share price. On Aug 10, 2016, David Henry Smith (director) sold 6,250 shares at $32.99 per share price, according to the Form-4 filing with the securities and exchange commission.
Parsley Energy Inc. is an independent oil and natural gas company. The Company is focused on the acquisition development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. 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. The Company’s properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry Wolfberry and Wolftoka Trends of the Midland Basin. The Company’s vertical wells in the area are drilled into stacked pay zones that include the Spraberry Wolfcamp Upper Pennsylvanian (Cline) Strawn Atoka and Mississippian formations. The Company’s principal asset is a controlling equity interest in Parsley LLC and is its managing member. As of December 31 2014 the Company had interests in 724 gross (416.4 net) producing wells.