Cerebellum GP LLC raised its holdings in Parsley Energy Inc (NYSE:PE) by 154.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,980 shares of the oil and natural gas company’s stock after buying an additional 9,704 shares during the quarter. Cerebellum GP LLC’s holdings in Parsley Energy were worth $255,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PE. IFM Investors Pty Ltd lifted its position in shares of Parsley Energy by 15.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 13,954 shares of the oil and natural gas company’s stock worth $408,000 after buying an additional 1,907 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Parsley Energy by 15.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,006 shares of the oil and natural gas company’s stock worth $468,000 after buying an additional 2,198 shares during the period. DNB Asset Management AS lifted its position in shares of Parsley Energy by 8.6% during the 3rd quarter. DNB Asset Management AS now owns 27,791 shares of the oil and natural gas company’s stock worth $813,000 after buying an additional 2,200 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in shares of Parsley Energy by 17.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 16,273 shares of the oil and natural gas company’s stock worth $493,000 after buying an additional 2,426 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Parsley Energy by 0.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 339,048 shares of the oil and natural gas company’s stock worth $9,917,000 after buying an additional 2,600 shares during the period. 82.96% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Parsley Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Imperial Capital restated an “outperform” rating and set a $33.00 target price (down previously from $45.00) on shares of Parsley Energy in a research report on Friday, January 4th. Morgan Stanley set a $26.00 target price on Parsley Energy and gave the stock a “hold” rating in a research report on Sunday, December 30th. Robert W. Baird set a $19.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Sunday, December 30th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Parsley Energy in a report on Friday, December 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $33.33.
In other news, Director A R. Alameddine bought 5,000 shares of the stock in a transaction dated Tuesday, November 27th. The stock was bought at an average cost of $21.10 per share, with a total value of $105,500.00. Following the purchase, the director now owns 122,643 shares of the company’s stock, valued at $2,587,767.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 7,000 shares of company stock valued at $145,490 over the last three months. Insiders own 13.17% of the company’s stock.
NYSE PE opened at $18.72 on Friday. The firm has a market capitalization of $6.08 billion, a PE ratio of 27.13, a PEG ratio of 0.42 and a beta of 0.23. Parsley Energy Inc has a 52 week low of $14.17 and a 52 week high of $33.43. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.35.
Parsley Energy (NYSE:PE) last released its earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $493.44 million. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The business’s revenue for the quarter was up 112.0% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. As a group, equities research analysts expect that Parsley Energy Inc will post 1.55 EPS for the current year.
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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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