Parsley Energy Inc. (PE) Stock Could Soon Reward Patient Investors

Parsley Energy Inc. (NYSE: PE) is -42.78% lower on its value in year-to-date trading and has touched a low of $3.92 and a high of $20.80 in the current 52-week trading range. The PE stock was last observed hovering at around $10.75 in the last trading session, with the day’s gains setting it 0.07% off its average median price target of $15.00 for the next 12 months. It is also 50.82% off the consensus price target high of $22.00 offered by 33 analysts, but current levels are 9.83% higher than the price target low of $12.00 for the same period.

Currently trading at $10.82, the stock is -5.88% and -2.60% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.53 million and changing 0.65% at the moment leaves the stock -11.09% off its SMA200. PE registered -37.71% loss for a year compared to 6-month loss of -16.90%. The firm has a 50-day simple moving average (SMA 50) of $11.28 and a 200-day simple moving average (SMA200) of $9.96.

The stock witnessed a 0.00% gain in the last 1 month and extending the period to 3 months gives it a 0.74%, and is -3.82% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.13% over the week and 3.90% over the month.

Parsley Energy Inc. (PE) has around 496 employees, a market worth around $4.49B and $1.82B in sales. Fwd P/E is 10.86. Distance from 52-week low is 176.02% and -47.98% from its 52-week high. The company has generated returns on investments over the last 12 months (6.00%).

Parsley Energy Inc. (PE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Parsley Energy Inc. (PE) is a “Buy”. 33 analysts offering their recommendations for the stock have an average rating of 1.70, where 1 rate it as a Hold and 2 think it is a “Overweight”. 30 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Parsley Energy Inc. is expected to release its quarterly report on 11/10/2020 and quarterly earnings per share for the current quarter are estimated at $0.18 with sales reaching $436.01M over the same period.The EPS is expected to shrink by -53.80% this year, but quarterly earnings will post -13.80% year-over-year. Quarterly sales are estimated to shrink -14.50% in year-over-year returns.

Parsley Energy Inc. (PE) Top Institutional Holders

499 institutions hold shares in Parsley Energy Inc. (PE), with 78.73M shares held by insiders accounting for 20.85% while institutional investors hold 91.69% of the company’s shares. The shares outstanding are 376.95M, and float is at 299.19M with Short Float at 9.99%. Institutions hold 72.57% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 28.14 million shares valued at $300.58 million. The investor’s holdings represent 7.45% of the PE Shares outstanding. As of Jun 29, 2020, the second largest holder is Invesco Ltd. with 16.87 million shares valued at $180.13 million to account for 4.47% of the shares outstanding. The other top investors are Blackrock Inc. which holds 13.9 million shares representing 3.68% and valued at over $148.46 million, while Nuveen Asset Management holds 2.91% of the shares totaling 11.0 million with a market value of $117.46 million.

Parsley Energy Inc. (PE) Insider Activity

A total of 17 insider transactions have happened at Parsley Energy Inc. (PE) in the last six months, with sales accounting for 2 and purchases happening 15 times. The most recent transaction is an insider sale by Sheffield Bryan. SEC filings show that Sheffield Bryan sold 300,000 shares of the company’s common stock on Aug 20 at a price of $11.46 per share for a total of $3.44 million. Following the sale, the insider now owns 8.41 million shares.

Parsley Energy Inc. disclosed in a document filed with the SEC on Aug 19 that Sheffield Bryan sold a total of 300,000 shares of the company’s common stock. The trade occurred on Aug 19 and was made at $12.00 per share for $3.6 million. Following the transaction, the insider now directly holds 8.71 million shares of the PE stock.

Still, SEC filings show that on Aug 18, Sheffield Bryan disposed off 300,000 shares at an average price of $12.12 for $3.64 million. The insider now directly holds 9,010,686 shares of Parsley Energy Inc. (PE).

Parsley Energy Inc. (PE): Who are the competitors?

The company’s main competitors (and peers) include Diamondback Energy Inc. (FANG) that is trading -60.33% down over the past 12 months. Short interest in the company’s stock has risen 3.78% from the last report on Jul 14, 2020 to stand at a total of 28.76 million short shares sold with a short interest ratio of 4.08.