KeyBanc maintained its Parsley Energy [PE] rating to the equivalent of Overweight but changed the price target to $17 from $16, in a research note dated 2021-01-07. That figure represents around a 8.28% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Stephens’s analysts downgrading the shares from “an Overweight” rating to “an Equal-weight” rating in a research note to investors issued in late October. Meanwhile, Piper Sandler had raised its rating on PE to “an Overweight” from the earlier “Neutral”, in a research note produced for clients July 21, 2020. In addition, there was an upgrade from Raymond James on July 20, 2020. The rater changed PE from “an Outperform” to “a Strong buy”.
Is Parsley Energy Inc. [NYSE:PE] a Good Buy Right Now?
It should be noted that PE technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Parsley Energy Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 5.11 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 6.83 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 7.8 million shares.
PE Price Performance
On Wall Street, Parsley Energy Inc. [NYSE:PE] finished Wednesday’s session up 3.23% at $15.65. The stock went up to $16.06 at the same session while its lowest single day price was $15.17. In the last five days, it saw a rise of about 13.98%, Parsley Energy Inc. shares gained by almost 10.21% since the beginning of the year. However, the share price has dropped to as low as -22.24% below its one year high. On 01/06/21, the company shares recorded $16.06, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $13.98. The company’s shares have declined by -21.36% in the past year. The 50-day SMA achieved is $12.72 while the 200-day SMA is $10.54. Volume gained to 15.65 million from 8.08 million in the previous session.
PE Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 15.19 level, and in case of violation of this particular level, it will cause more drop to 14.74 level. On the upper level, 16.52 is still the key resistance. The stock may increase to the subsequent resistance at 16.08. The Relative Strength Index (RSI) pinned on the 14-day chart is 68.43, implying a neutral technical stance while the MACD stands at 0.76, meaning price will decrease in the next trading period. Percent R indicator moved to 15.30%, implying bullish price movement. Stochastic %K at 73.46% suggest selling the stock.
What is the short interest in Parsley Energy Inc.?
Short interest in the Parsley Energy Inc. stock has surged, increasing by 0.83 million shares to total 32.59 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 33.42 million, data from Yahoo Finance shows. The decrease of -2.55% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 10.54% of the overall float for the stock.
Parsley Energy Inc.’s Biggest Shareholders: Who Owns Parsley Energy Inc. [PE]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 28,052,177 shares or roughly 7.41% of the outstanding PE shares. This means their shares have increased by 323,511 from the 28,052,177 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Invesco Advisers, Inc. updated stake is worth $349,724,980. Details in the latest 13F filings reveal that Boston Partners Global Investors, acquired their 147.11% stake valued at $315,223,763 while Capital Research & Management Co added theirs at $201,884,613. During the last quarter, Boston Partners Global Investors, raised 14,976,772 of its shares in Parsley Energy Inc. while Capital Research & Management Co bought 5,129,316 shares. The BlackRock Fund Advisors’s holdings currently number 11,357,525 shares at $177745266.25. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 10,586,100 shares, roughly $132,643,833.
PE Earnings Forecast For The Current Quarter
Parsley Energy Inc. [PE] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $468.77M and an earnings per share of $0.25 for Dec 2020. Looking further ahead, the company is expected to report revenue of $477.14M at an EPS of $0.3 for Mar 2021. The estimates represent downside of 14.30% and 55.11% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PE Earnings Estimates For The Current Year
For the financial year, Parsley Energy Inc. [NYSE:PE] is expected to bring in revenue of $1.7B. The returns are nearly $-260.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.7, lower than that of FY19 by -$0.42. Estimates put this year’s earnings growth at -37.50%, 55.70% for the next, and at an annual 22.90% over the next 5-year period. As for sales, forecasts are for a decrease of -13.30% in the current fiscal year and a further 14.30% over the following year.