Parsley Energy Inc (PE) Short Interest Update
Parsley Energy Inc (NYSE:PE) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 9,628,286 shares, a drop of 32.7% from the January 15th total of 14,306,883 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 5,410,824 shares, the short-interest ratio is currently 1.8 days.
NYSE PE opened at $18.22 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.35. Parsley Energy has a 52 week low of $14.17 and a 52 week high of $33.43. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 0.50 and a beta of 0.41.
PE has been the subject of a number of research reports. BMO Capital Markets dropped their price objective on shares of Parsley Energy to $35.00 and set an “outperform” rating for the company in a report on Thursday, December 20th. Robert W. Baird set a $19.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a report on Sunday, December 30th. Morgan Stanley restated a “hold” rating and issued a $26.00 price objective on shares of Parsley Energy in a report on Friday, December 21st. TD Securities dropped their price objective on shares of Parsley Energy from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, December 21st. Finally, Northland Securities restated a “buy” rating and issued a $36.00 price objective on shares of Parsley Energy in a report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Parsley Energy currently has an average rating of “Buy” and an average price target of $32.90.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nippon Life Global Investors Americas Inc. grew its holdings in Parsley Energy by 24.5% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 302,050 shares of the oil and natural gas company’s stock worth $4,827,000 after acquiring an additional 59,360 shares in the last quarter. Credit Suisse AG grew its holdings in Parsley Energy by 42.2% during the 3rd quarter. Credit Suisse AG now owns 502,991 shares of the oil and natural gas company’s stock worth $14,713,000 after acquiring an additional 149,203 shares in the last quarter. Nordea Investment Management AB grew its holdings in Parsley Energy by 64.6% during the 3rd quarter. Nordea Investment Management AB now owns 9,540 shares of the oil and natural gas company’s stock worth $279,000 after acquiring an additional 3,745 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Parsley Energy by 57.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,039,718 shares of the oil and natural gas company’s stock worth $59,661,000 after acquiring an additional 747,541 shares in the last quarter. Finally, Highland Capital Management LLC acquired a new position in Parsley Energy during the 3rd quarter worth approximately $502,000. Institutional investors own 83.18% of the company’s stock.
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Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
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