Pinnacle Associates Ltd. boosted its position in Parsley Energy Inc (NYSE:PE) by 103.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,050 shares of the oil and natural gas company’s stock after buying an additional 38,675 shares during the period. Pinnacle Associates Ltd.’s holdings in Parsley Energy were worth $2,239,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PE. Point72 Asset Management L.P. boosted its position in Parsley Energy by 164.3% in the third 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 buying an additional 3,549,307 shares during the last quarter. Boston Partners boosted its position in Parsley Energy by 19.3% in the third 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 during the last quarter. Schroder Investment Management Group purchased a new stake in Parsley Energy in the third quarter valued at approximately $33,808,000. Third Point LLC boosted its position in Parsley Energy by 18.9% in the third 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Parsley Energy by 8.3% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.
A number of equities research analysts recently commented on PE shares. Imperial Capital upped their target price on Parsley Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. dropped their target price on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 15th. Barclays upped their price objective on Parsley Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Morgan Stanley upped their price objective on Parsley Energy from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, National Alliance Securities assumed coverage on Parsley Energy in a research report on Friday, February 16th. They issued a “hold” rating and a $25.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Parsley Energy has a consensus rating of “Buy” and a consensus target price of $36.13.
Parsley Energy Inc (NYSE PE) opened at $26.21 on Friday. Parsley Energy Inc has a 52-week low of $21.12 and a 52-week high of $33.07. The stock has a market capitalization of $8,240.08, a P/E ratio of 42.27, a PEG ratio of 1.03 and a beta of -0.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92.
Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Parsley Energy had a return on equity of 3.16% and a net margin of 11.04%. The firm had revenue of $311.49 million for the quarter, compared to analyst estimates of $298.04 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue was up 99.8% on a year-over-year basis. analysts expect that Parsley Energy Inc will post 1.24 earnings per share for the current fiscal year.
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Parsley Energy Company 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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