A Director at Parsley Energy (NYSE: PE) is Buying Shares

By Carrie Williams

Today, a Director at Parsley Energy (NYSE: PE), Alameddine A, bought shares of PE for $278K.

Following this transaction Alameddine A R’s holding in the company was increased by 9.82% to a total of $2.62 million. Following Alameddine A R’s last PE Buy transaction on July 29, 2016, the stock climbed by 6.2%.

Based on Parsley Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $133 million and GAAP net loss of $2.71 million. In comparison, last year the company earned revenue of $64.23 million and had a net profit of $909K. The company has a one year high of $37.20 and a one year low of $14.51. Currently, Parsley Energy has an average volume of 3.16M.

21 different firms, including Barclays and BMO Capital, currently also have a Buy rating on the stock. Based on 11 analyst ratings, the analyst consensus is Strong Buy with an average price target of $41.40, reflecting a -16.1% downside. Starting in October 2016, PE received 9 Buy ratings in a row.

In the last 30 days, insiders have sold $874.1K worth of PE shares and purchased $278K worth of PE shares. The insider sentiment on Parsley Energy has been negative according to 62 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Parsley Energy, Inc is an oil and natural gas company, which focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. It operates through two segments: Oil & Natural Gas Exploration and Production. The company was founded by Bryan Sheffield in 2008 and is headquartered in Austin, TX.