Bank of New York Mellon Corp cut its stake in Parsley Energy, Inc. (NYSE:PE) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,221,501 shares of the oil and natural gas company’s stock after selling 32,675 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Parsley Energy worth $32,175,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD lifted its holdings in Parsley Energy by 15.0% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock worth $1,738,000 after buying an additional 8,593 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Parsley Energy by 15.8% during the 2nd quarter. Pacer Advisors Inc. now owns 40,202 shares of the oil and natural gas company’s stock worth $1,116,000 after buying an additional 5,492 shares during the last quarter. Motco purchased a new stake in Parsley Energy during the 2nd quarter worth about $278,000. Commerzbank Aktiengesellschaft FI lifted its holdings in Parsley Energy by 46.6% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 88,989 shares of the oil and natural gas company’s stock worth $2,469,000 after buying an additional 28,299 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Parsley Energy by 263.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock worth $64,805,000 after buying an additional 1,692,425 shares during the last quarter. Hedge funds and other institutional investors own 80.16% of the company’s stock.
A number of analysts have issued reports on the company. KeyCorp reaffirmed a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a report on Tuesday, September 19th. Imperial Capital started coverage on Parsley Energy in a report on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 target price for the company. US Capital Advisors reissued an “overweight” rating on shares of Parsley Energy in a report on Monday, October 2nd. Piper Jaffray Companies reissued a “buy” rating on shares of Parsley Energy in a report on Sunday, September 24th. Finally, Scotiabank reissued a “buy” rating and issued a $38.00 target price on shares of Parsley Energy in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $40.23.
Parsley Energy, Inc. (NYSE:PE) opened at $26.10 on Friday. The stock has a market capitalization of $8,205.50, a PE ratio of 68.68 and a beta of -0.05. Parsley Energy, Inc. has a 52-week low of $22.98 and a 52-week high of $38.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $241.02 million for the quarter, compared to analysts’ expectations of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The firm’s revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. equities analysts expect that Parsley Energy, Inc. will post 0.49 earnings per share for the current fiscal year.
About Parsley Energy
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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