Insider Change: What after Mike Hinson’s Insider Sale of Parsley Energy Inc (NYSE:PE) Stock?

November 24, 2016 - By Vivian Park

Insider Change: What after Mike Hinson's Insider Sale of Parsley Energy Inc (NYSE:PE) Stock?

Mike Hinson Insider Sell

The well-informed person Mike Hinson who is See Remarks of Parsley Energy Inc sold some 25,000 shares of the Texas-based company worth approx. $904,500 USD totalled based on $36.2 for a share. He also unloaded 50,000 shares with a total value of about $1,752,250 USD in the last month. At present, Mike Hinson owns 1.54 million shares which are around 0.85% of the company’s market capitalization. The sale, dated 21-11-2016, is recorded on a document which was filed with the (SEC) and is also on hand for review here.

Parsley Energy Inc (NYSE:PE) Ratings Coverage

Out of 28 analysts covering Parsley Energy Inc (NYSE:PE), 23 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 82% are positive. $48 is the highest target while $16 is the lowest. The $29.75 average target is -17.18% below today’s ($35.92) stock price. Parsley Energy Inc has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Iberia Capital Partners initiated Parsley Energy Inc (NYSE:PE) on Friday, October 9 with “Outperform” rating. Morgan Stanley maintained Parsley Energy Inc (NYSE:PE) on Tuesday, August 30 with “Overweight” rating. The rating was maintained by RBC Capital Markets on Thursday, February 25 with “Outperform”. Piper Jaffray initiated the shares of PE in a report on Friday, July 8 with “Overweight” rating. Bank of America initiated Parsley Energy Inc (NYSE:PE) on Tuesday, December 1 with “Buy” rating. On Thursday, August 4 the stock rating was maintained by UBS with “Buy”. Barclays Capital initiated Parsley Energy Inc (NYSE:PE) rating on Tuesday, June 21. Barclays Capital has “Overweight” rating and $30 price target. The stock has “Buy” rating given by Nomura on Thursday, December 3. The firm has “Market Perform” rating by Cowen & Co given on Tuesday, April 5. The stock has “Buy” rating given by Clarkson Platou on Tuesday, March 15.

Insitutional Activity: The institutional sentiment decreased to 1.38 in 2016 Q2. Its down 0.68, from 2.06 in 2016Q1. The ratio fall, as 26 funds sold all Parsley Energy Inc shares owned while 54 reduced positions. 76 funds bought stakes while 89 increased positions. They now own 148.38 million shares or 18.17% more from 125.56 million shares in 2016Q1.

Commonwealth Of Pennsylvania School Empls Retrmt owns 13,846 shares or 0.01% of their US portfolio. Moreover, Virginia Retirement Sys Et Al has 0.01% invested in Parsley Energy Inc (NYSE:PE) for 17,100 shares. Moreover, Caisse De Depot Et Placement Du Quebec has 0.01% invested in Parsley Energy Inc (NYSE:PE) for 90,000 shares. Utah Retirement reported 27,500 shares or 0.02% of all its holdings. The New York-based Bnp Paribas Arbitrage has invested 0% in Parsley Energy Inc (NYSE:PE). Lombard Odier Asset Mgmt (Europe) Limited holds 0.02% of its portfolio in Parsley Energy Inc (NYSE:PE) for 12,287 shares. Viking Fund Management Ltd Limited Liability Company last reported 715,000 shares in the company. Nikko Asset Management Americas holds 0.03% of its portfolio in Parsley Energy Inc (NYSE:PE) for 11,500 shares. The Connecticut-based Cardinal Cap Management Ltd Ct has invested 2.15% in Parsley Energy Inc (NYSE:PE). Loeb Prtn last reported 8,700 shares in the company. Graham Capital Mgmt Ltd Partnership last reported 1.31% of its portfolio in the stock. Regions Fincl holds 0.02% of its portfolio in Parsley Energy Inc (NYSE:PE) for 61,455 shares. Lmr Limited Liability Partnership owns 64,498 shares or 0.27% of their US portfolio. First Mercantile Tru owns 19,080 shares or 0.06% of their US portfolio. Catalyst Advisors Ltd Co has 0% invested in the company for 1,000 shares.

Insider Transactions: Since June 2, 2016, the stock had 1 buying transaction, and 22 sales for $62.75 million net activity. Another trade for 25,000 shares valued at $901,000 was made by Hinson Mike on Friday, October 21. Roberts Colin sold 25,000 shares worth $819,250. Shares for $35.37 million were sold by Sheffield Bryan. $1.47 million worth of Parsley Energy Inc (NYSE:PE) was sold by Gallagher Matthew. 20,000 shares were sold by Dalton Ryan, worth $699,533. Shares for $206,188 were sold by Smith David Henry. On Thursday, November 17 the insider ALAMEDDINE A R bought $278,000.

The stock increased 0.34% or $0.12 during the last trading session, hitting $35.92. About 1.87M shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 54.11% since April 21, 2016 and is uptrending. It has outperformed by 48.78% the S&P500.

Parsley Energy, Inc. is an independent oil and natural gas company. The company has a market cap of $7.33 billion. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It currently has negative earnings. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.”

Analysts await Parsley Energy Inc (NYSE:PE) to report earnings on February, 22. They expect $0.07 earnings per share, up 450.00% or $0.09 from last year’s $-0.02 per share. PE’s profit will be $14.28 million for 128.29 P/E if the $0.07 EPS becomes a reality. After $0.03 actual earnings per share reported by Parsley Energy Inc for the previous quarter, Wall Street now forecasts 133.33% EPS growth.

Another recent and important Parsley Energy Inc (NYSE:PE) news was published by Prnewswire.com which published an article titled: “Parsley Energy Announces Third Quarter 2016 Financial And Operating Results ..” on November 02, 2016.

PE Company Profile

Parsley Energy, Inc., incorporated on December 11, 2013, is an independent oil and natural gas company. The Firm 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 over 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 Permian Basin are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations.

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