Traders Buy High Volume of Put Options on Parsley Energy (NYSE:PE)

Parsley Energy Inc (NYSE:PE) was the recipient of some unusual options trading on Wednesday. Stock traders bought 5,331 put options on the company. This is an increase of approximately 1,677% compared to the average volume of 300 put options.

In other news, Director Ron Brokmeyer purchased 5,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average price of $14.95 per share, for a total transaction of $74,750.00. Following the completion of the acquisition, the director now owns 13,897 shares of the company’s stock, valued at $207,760.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Colin Roberts sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $16.36, for a total value of $163,600.00. Following the completion of the sale, the insider now owns 261,626 shares of the company’s stock, valued at approximately $4,280,201.36. The disclosure for this sale can be found here. Corporate insiders own 12.14% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its stake in Parsley Energy by 214.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 1,484 shares in the last quarter. First Quadrant L P CA purchased a new position in Parsley Energy in the 3rd quarter valued at about $42,000. Capital Wealth Alliance LLC purchased a new position in Parsley Energy in the 4th quarter valued at about $46,000. Fieldpoint Private Securities LLC purchased a new position in Parsley Energy in the 4th quarter valued at about $47,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Parsley Energy by 22.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,381 shares of the oil and natural gas company’s stock valued at $102,000 after buying an additional 993 shares in the last quarter. 80.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on PE. Cowen reiterated a “buy” rating and issued a $29.00 price target on shares of Parsley Energy in a report on Monday, December 16th. Mizuho reiterated a “buy” rating and issued a $26.00 price target on shares of Parsley Energy in a report on Thursday, February 20th. ValuEngine upgraded Parsley Energy from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Raymond James lowered their price target on Parsley Energy from $32.00 to $27.00 and set a “strong-buy” rating for the company in a report on Tuesday. Finally, Piper Sandler upped their target price on Parsley Energy from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, twenty 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 target price of $24.26.

NYSE PE opened at $12.57 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.50 and a quick ratio of 0.56. The stock’s fifty day moving average price is $17.00 and its 200 day moving average price is $16.97. Parsley Energy has a 1 year low of $13.60 and a 1 year high of $22.11. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 0.26 and a beta of 0.72.

Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, February 19th. The oil and natural gas company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.03). Parsley Energy had a net margin of 8.94% and a return on equity of 4.87%. The firm had revenue of $522.45 million during the quarter, compared to analyst estimates of $514.82 million. During the same period in the previous year, the company earned $0.30 earnings per share. Parsley Energy’s revenue was up 14.8% on a year-over-year basis. Research analysts expect that Parsley Energy will post 1.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.59%. This is an increase from Parsley Energy’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Monday, March 9th. Parsley Energy’s dividend payout ratio is presently 10.71%.

About Parsley Energy

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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