Parsley Energy (NYSE:PE) has tumbled 1.06% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 4.96% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.13% and the outperformance has advanced to 4% for the last 4 weeks period.
Parsley Energy (NYSE:PE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $25.92 and $25.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $26.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $26.25, notching a gain of 1.08% for the day. The total traded volume was 2,392,990 . The stock had closed at $25.97 on the previous day.
The company shares have rallied 42.97% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $28.01 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $25.45 and the 200 Day Moving Average price is recorded at $20.88.
On the companys insider trading activities,The officer (See Remarks) of Parsley Energy, Inc., Dalton Ryan sold 60,000 shares at $26.52 on June 15, 2016. The Insider selling transaction had a total value worth of $1,591,200. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Wunderlich initiates coverage on Parsley Energy (NYSE:PE) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $32 per share. The rating by the firm was issued on June 17, 2016. Currently the company Insiders own 24.17% of Parsley Energy shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -1.29% . Institutional Investors own 77.2% of Parsley Energy shares. During last six month period, the net percent change held by insiders has seen a change of -4.58%.
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 Companys 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 Companys 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 Companys 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.