Fmr LLC lessened its stake in Parsley Energy Inc (NYSE:PE) by 21.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,958,121 shares of the oil and natural gas company’s stock after selling 2,703,029 shares during the quarter. Fmr LLC’s holdings in Parsley Energy were worth $301,532,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its holdings in shares of Parsley Energy by 67.0% in the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock worth $118,000 after acquiring an additional 1,639 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Parsley Energy by 7.8% in the first quarter. Xact Kapitalforvaltning AB now owns 24,792 shares of the oil and natural gas company’s stock worth $719,000 after acquiring an additional 1,797 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Parsley Energy by 4.2% in the first quarter. Amalgamated Bank now owns 48,173 shares of the oil and natural gas company’s stock worth $1,397,000 after acquiring an additional 1,950 shares in the last quarter. American International Group Inc. increased its holdings in shares of Parsley Energy by 38.1% in the first quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 2,000 shares in the last quarter. Finally, BP Capital Fund Advisors LLC increased its holdings in shares of Parsley Energy by 1.1% in the first quarter. BP Capital Fund Advisors LLC now owns 190,030 shares of the oil and natural gas company’s stock worth $5,509,000 after acquiring an additional 2,101 shares in the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.
In related news, Director Hemang Desai purchased 1,000 shares of Parsley Energy stock in a transaction that occurred on Tuesday, September 4th. The stock was purchased at an average cost of $27.32 per share, with a total value of $27,320.00. Following the completion of the transaction, the director now owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mike Hinson sold 250,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $30.24, for a total value of $7,560,000.00. Following the transaction, the insider now directly owns 663,978 shares of the company’s stock, valued at $20,078,694.72. The disclosure for this sale can be found here. Insiders have sold 2,773,328 shares of company stock valued at $78,620,280 over the last ninety days. 13.17% of the stock is owned by insiders.
PE stock opened at $26.44 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.36. The stock has a market cap of $8.80 billion, a PE ratio of 38.32, a PEG ratio of 0.63 and a beta of -0.55. Parsley Energy Inc has a fifty-two week low of $21.12 and a fifty-two week high of $33.43.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $467.79 million for the quarter, compared to analyst estimates of $431.02 million. Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. equities research analysts anticipate that Parsley Energy Inc will post 1.55 EPS for the current fiscal year.
Several brokerages have issued reports on PE. Zacks Investment Research downgraded Parsley Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Susquehanna Bancshares began coverage on Parsley Energy in a report on Wednesday, July 11th. They issued a “positive” rating and a $38.00 price target for the company. Piper Jaffray Companies restated a “buy” rating and issued a $49.00 price target on shares of Parsley Energy in a report on Friday, July 20th. Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Williams Capital set a $38.00 price target on Parsley Energy and gave the stock a “hold” rating in a report on Wednesday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.73.
About Parsley Energy
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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