Parsley Energy (PE) : Traders are bullish on Parsley Energy (PE) as it has outperformed the S&P 500 by a wide margin of 3.59% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.13%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.65% in the last 1 week, and is up 8.11% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 5.78% and the 50-Day Moving Average is 8.69%.
Parsley Energy (NYSE:PE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.39 and $28.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.38, notching a gain of 0.21% for the day. The total traded volume was 1,564,313 . The stock had closed at $28.32 on the previous day.
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 -18.49% . Institutional Investors own 77.19% of Parsley Energy shares. During last six month period, the net percent change held by insiders has seen a change of -4.48%. In a related news, Hinson Mike, officer (See Remarks) of Parsley Energy, Inc., unloaded 25,000 shares at an average price of $28.33 on July 12, 2016. The total amount of the transaction was worth $708,250, according to the disclosed information 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.