HITE Hedge Asset Management LLC increased its holdings in shares of Parsley Energy Inc (NYSE:PE) by 67.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 54,997 shares of the oil and natural gas company’s stock after purchasing an additional 22,198 shares during the period. HITE Hedge Asset Management LLC’s holdings in Parsley Energy were worth $1,061,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in PE. Vanguard Group Inc increased its holdings in shares of Parsley Energy by 4.0% in the third quarter. Vanguard Group Inc now owns 23,467,865 shares of the oil and natural gas company’s stock worth $686,436,000 after buying an additional 901,815 shares during the period. Strs Ohio increased its stake in shares of Parsley Energy by 51.9% during the fourth quarter. Strs Ohio now owns 17,341 shares of the oil and natural gas company’s stock worth $277,000 after purchasing an additional 5,927 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Parsley Energy by 24.4% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 34,020 shares of the oil and natural gas company’s stock worth $543,000 after purchasing an additional 6,665 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Parsley Energy by 19.0% during the fourth quarter. Pinnacle Associates Ltd. now owns 101,240 shares of the oil and natural gas company’s stock worth $1,618,000 after acquiring an additional 16,150 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Parsley Energy by 145.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,223,037 shares of the oil and natural gas company’s stock worth $19,544,000 after acquiring an additional 723,980 shares during the last quarter. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PE traded down $0.56 on Wednesday, hitting $17.13. The stock had a trading volume of 155,467 shares, compared to its average volume of 5,404,523. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 0.31 and a beta of 0.50. Parsley Energy Inc has a 1-year low of $14.17 and a 1-year high of $33.25.
Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $427.67 million during the quarter, compared to analyst estimates of $410.04 million. Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, equities analysts anticipate that Parsley Energy Inc will post 1.6 earnings per share for the current fiscal year.
In other news, insider Colin Roberts sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $20.00, for a total value of $60,000.00. Following the transaction, the insider now directly owns 271,926 shares in the company, valued at approximately $5,438,520. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jerry Windlinger acquired 1,985 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was bought at an average price of $17.50 per share, for a total transaction of $34,737.50. Following the completion of the acquisition, the director now owns 33,382 shares in the company, valued at approximately $584,185. The disclosure for this purchase can be found here. Corporate insiders own 12.14% of the company’s stock.
PE has been the topic of a number of recent research reports. ValuEngine upgraded shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 18th. Stifel Nicolaus set a $55.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Friday, February 22nd. Evercore ISI upgraded shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 price target on the stock in a research report on Monday, May 6th. SunTrust Banks set a $30.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Zacks Investment Research lowered shares of Parsley Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Parsley Energy presently has a consensus rating of “Buy” and an average target price of $30.87.
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Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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