Parsley Energy Inc (PE) was Resumed by Piper Jaffray to “Overweight”. Piper Jaffray advised their investors in a research report released on Jul 8, 2016.
Many Wall Street Analysts have commented on Parsley Energy Inc. Barclays Initiated Parsley Energy Inc on Jun 21, 2016 to “Overweight”, Price Target of the shares are set at $30.Wunderlich Initiated Parsley Energy Inc on Jun 17, 2016 to “Buy”, Price Target of the shares are set at $32.Company shares were Reiterated by Stifel on May 17, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $25 .
On the company’s financial health, Parsley Energy Inc reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 4, 2016. Analyst had a consensus of $-0.09. The company had revenue of $62.30 million for the quarter, 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.
Parsley Energy Inc closed down -0.44 points or -1.62% at $26.72 with 25,58,596 shares getting traded on Tuesday. Post opening the session at $26.73, the shares hit an intraday low of $26.4 and an intraday high of $26.93 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Jul 1, 2016, Mike Hinson (officer ) sold 25,000 shares at $26.22 per share price. According to the SEC, on Jun 17, 2016, Ryan Dalton (officer ) sold 60,000 shares at $26.52 per share price. On May 13, 2016, Brad C. Smith (officer ) sold 10,000 shares at $25.42 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.