Majedie Asset Management Ltd grew its stake in shares of Parsley Energy Inc (NYSE:PE) by 2.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 307,662 shares of the oil and natural gas company’s stock after acquiring an additional 6,428 shares during the period. Majedie Asset Management Ltd owned about 0.10% of Parsley Energy worth $9,058,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in PE. Point72 Asset Management L.P. boosted its holdings in Parsley Energy by 164.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,709,178 shares of the oil and natural gas company’s stock valued at $150,380,000 after purchasing an additional 3,549,307 shares during the period. Boston Partners raised its position in shares of Parsley Energy by 19.3% during the 3rd quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock valued at $402,148,000 after buying an additional 2,466,399 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Parsley Energy during the 3rd quarter valued at $33,808,000. Third Point LLC raised its position in shares of Parsley Energy by 18.9% during the 3rd quarter. Third Point LLC now owns 5,350,000 shares of the oil and natural gas company’s stock valued at $140,919,000 after buying an additional 850,000 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Parsley Energy by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 8,457,237 shares of the oil and natural gas company’s stock valued at $248,980,000 after buying an additional 648,938 shares in the last quarter. 80.19% of the stock is owned by hedge funds and other institutional investors.
Parsley Energy Inc (PE) traded up $1.12 on Wednesday, hitting $23.69. 4,242,131 shares of the stock traded hands, compared to its average volume of 7,131,626. 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 Inc has a 1 year low of $21.12 and a 1 year high of $33.07. The stock has a market capitalization of $7,168.02, a PE ratio of 282.16, a price-to-earnings-growth ratio of 0.90 and a beta of -0.32.
A number of equities analysts recently commented on PE shares. Zacks Investment Research cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Credit Suisse Group started coverage on shares of Parsley Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $32.00 price objective on the stock. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Northland Securities set a $36.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $41.00 price objective on shares of Parsley Energy in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company’s stock. Parsley Energy presently has an average rating of “Buy” and an average target price of $37.38.
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Parsley Energy Profile
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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