Large Outflow of Money Witnessed in Parsley Energy

Parsley Energy (PE) : The total negative money flow of $3.99 million on Friday indicates selling on strength. The inflow of money on upticks was $6.49 million, compared to $10.48 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.62. The negative money flow of $4.59 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $4.59 million. The price action in the Parsley Energy (PE) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $27.89 with a gain of $0.05 , a change of 0.18% over the previous days close. The stock registered -1.73% for the week.


Parsley Energy (PE) : The most positive equity analysts on Parsley Energy (PE) expects the shares to touch $39, whereas, the least positive believes that the stock will trade at $21 in the short term. The company is covered by 18 Wall Street Brokerage Firms. The average price target for shares are $31.5 with an expected fluctuation of $3.91 from the mean.

Parsley Energy (NYSE:PE): stock turned positive on Friday. Though the stock opened at $27.89, the bulls momentum made the stock top out at $28.32 level for the day. The stock recorded a low of $27.65 and closed the trading day at $27.95, in the green by 0.40%. The total traded volume for the day was 2,738,730. The stock had closed at $27.84 in the previous days trading.

In a related news,The officer (See Remarks) of Parsley Energy, Inc., Hinson Mike sold 25,000 shares at $28.33 on July 12, 2016. The Insider selling transaction had a total value worth of $708,250. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

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