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

Parsley Energy Inc (NYSE:PE) was the target of unusually large options trading on Tuesday. Traders bought 14,050 call options on the stock. This represents an increase of approximately 2,062% compared to the average daily volume of 650 call options.

NYSE:PE traded up $0.19 during midday trading on Thursday, hitting $16.41. The company had a trading volume of 7,217,365 shares, compared to its average volume of 5,195,020. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $5.14 billion, a P/E ratio of 11.64, a PEG ratio of 0.32 and a beta of 0.53. The stock has a fifty day simple moving average of $17.98. Parsley Energy has a 52-week low of $14.17 and a 52-week high of $32.33.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $427.67 million during the quarter, compared to the consensus estimate of $410.04 million. Parsley Energy had a return on equity of 6.05% and a net margin of 14.09%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, 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. Evercore ISI raised Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 target price on the stock in a research report on Monday, May 6th. TD Securities reduced their price target on TRANSAT AT from C$15.00 to C$11.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Wolfe Research cut Southwestern Energy from a “peer perform” rating to an “underperform” rating in a research note on Thursday, April 18th. Goldman Sachs Group cut Encana to a “buy” rating in a research note on Friday, April 12th. Finally, Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy presently has an average rating of “Buy” and an average price target of $30.31.

In related news, insider Bryan Sheffield sold 100,000 shares of Parsley Energy stock in a transaction on 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 completion of the sale, the insider now directly owns 8,801,632 shares of the company’s stock, valued at $178,145,031.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry Windlinger acquired 1,985 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $17.50 per share, with a total value of $34,737.50. Following the completion of the purchase, 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 owned by company insiders.

Several large 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. 82.30% of the stock is owned by hedge funds and other institutional investors.

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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