Morgan Stanley Initiates Coverage on Parsley Energy Inc(NYSE:PE). The shares have been rated Overweight. The rating by Morgan Stanley was issued on Jul 21, 2016.
In a different note, On Jul 8, 2016, Piper Jaffray said it Assumes its rating on Parsley Energy Inc. The shares have been rated ‘Overweight’ by the firm. Barclays said it Initiates Coverage on Parsley Energy Inc, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Overweight’ by the firm. Wunderlich said it Initiates Coverage on Parsley Energy Inc, according to a research note issued on Jun 17, 2016. The shares have been rated ‘Buy’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on Parsley Energy Inc. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Buy’ by the firm. On May 5, 2016, Raymond James said it Upgrades its rating on Parsley Energy Inc. The shares have been rated ‘Strong Buy’ by the firm.
Parsley Energy Inc (PE) shares turned negative on Wednesdays trading session with the shares closing down -0.14 points or -0.50% at a volume of 15,38,869. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.12. The peak price level was also seen at $28.12 while the days lowest was $27.62. Finally the shares closed at $27.98. The 52-week high of the shares is $28.75 while the 52-week low is $13.29. According to the latest information available, the market cap of the company is $5,309 M.
Parsley Energy Inc(PE) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $62.27M. Analysts had an estimated revenue of $74.91M. Earnings per share were $-0.02. Analysts had estimated an EPS of $-0.09.
Several Insider Transactions has been reported to the SEC. On Jul 14, 2016, Mike Hinson (officer ) sold 25,000 shares at $28.33 per share price.Also, 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.