Parsley Energy Sees Unusually Large Options Volume (NYSE:PE)

Parsley Energy Inc (NYSE:PE) saw some unusual options trading on Tuesday. Stock traders bought 10,063 put options on the stock. This is an increase of 2,325% compared to the average daily volume of 415 put options.

Shares of NYSE PE traded up $0.19 during midday trading on Thursday, hitting $16.41. 7,217,365 shares of the company traded hands, compared to its average volume of 5,195,020. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.32 and a beta of 0.53. The firm has a 50-day moving average of $17.98. Parsley Energy has a 12-month low of $14.17 and a 12-month high of $32.33. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.36.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The company had revenue of $427.67 million for the quarter, compared to the consensus estimate of $410.04 million. Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. Sell-side analysts predict that Parsley Energy will post 1.49 earnings per share for the current year.

Several equities analysts have recently commented on PE shares. Robert W. Baird set a $25.00 target price on Actuant and gave the company a “buy” rating in a research report on Thursday, June 27th. Goldman Sachs Group downgraded Encana to a “buy” rating in a research report on Friday, April 12th. ValuEngine downgraded Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Evercore ISI raised Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 price target on the stock in a research report on Monday, May 6th. Finally, SunTrust Banks set a $75.00 price target on Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.31.

In related news, insider Bryan Sheffield sold 100,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the sale, the insider now owns 8,801,632 shares in the company, valued at $178,145,031.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry Windlinger purchased 1,985 shares of the stock in a transaction on Wednesday, June 5th. The shares were acquired at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the transaction, the director now owns 33,382 shares of the company’s stock, valued at $584,185. The disclosure for this purchase can be found here. 12.14% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of PE. AGF Investments Inc. raised its position in Parsley Energy by 0.5% in the fourth quarter. AGF Investments Inc. now owns 112,160 shares of the oil and natural gas company’s stock worth $1,792,000 after acquiring an additional 610 shares during the period. Sapience Investments LLC raised its position in Parsley Energy by 0.3% in the first quarter. Sapience Investments LLC now owns 209,050 shares of the oil and natural gas company’s stock worth $4,035,000 after acquiring an additional 670 shares during the period. Advisor Group Inc. raised its position in Parsley Energy by 15.0% in the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock worth $88,000 after acquiring an additional 719 shares during the period. Comerica Bank raised its position in Parsley Energy by 6.8% in the first quarter. Comerica Bank now owns 11,311 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 720 shares during the period. Finally, First National Bank of Omaha raised its position in Parsley Energy by 4.8% in the first quarter. First National Bank of Omaha now owns 18,905 shares of the oil and natural gas company’s stock worth $365,000 after acquiring an additional 860 shares during the period. Institutional investors own 82.30% of the company’s stock.

Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.

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