Parsley Energy Inc (PE) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $-0.09. The company posted revenue of $62.30 million in the period, compared to analysts expectations of $73.55 million. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.
Many Wall Street Analysts have commented on Parsley Energy Inc. Company shares were Reiterated by Topeka Capital Markets on Apr 5, 2016 to “Buy”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Topeka Capital Markets on Feb 25, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .Company shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .
Parsley Energy Inc opened for trading at $23.08 and hit $23.74 on the upside on Monday, eventually ending the session at $23.73, with a gain of 1.32% or 0.31 points. The heightened volatility saw the trading volume jump to 35,89,747 shares. Company has a market cap of $4,005 M.
In a different news, on Apr 22, 2016, Mike Hinson (Vice President-Land) sold 25,000 shares at $23.47 per share price. According to the SEC, on Mar 7, 2016, Hemang Desai (director) purchased 1,000 shares at $18.33 per share price. On Dec 1, 2015, Ryan Dalton (officer ) sold 37,500 shares at $20.02 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.