Geode Capital Management LLC lifted its position in shares of Parsley Energy Inc (NYSE:PE) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,882,692 shares of the oil and natural gas company’s stock after acquiring an additional 66,510 shares during the period. Geode Capital Management LLC owned about 0.60% of Parsley Energy worth $55,392,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. BP Capital Fund Advisors LLC increased its position in Parsley Energy by 7.6% in the fourth quarter. BP Capital Fund Advisors LLC now owns 187,929 shares of the oil and natural gas company’s stock worth $5,533,000 after buying an additional 13,241 shares during the period. Amalgamated Bank increased its position in Parsley Energy by 7.5% in the fourth quarter. Amalgamated Bank now owns 46,223 shares of the oil and natural gas company’s stock worth $1,361,000 after buying an additional 3,234 shares during the period. Assetmark Inc. increased its position in Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after buying an additional 2,864 shares during the period. Kingfisher Capital LLC acquired a new stake in Parsley Energy in the fourth quarter worth $498,000. Finally, OppenheimerFunds Inc. increased its position in Parsley Energy by 21.2% in the fourth quarter. OppenheimerFunds Inc. now owns 53,791 shares of the oil and natural gas company’s stock worth $1,584,000 after buying an additional 9,408 shares during the period. 82.60% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Ron Brokmeyer bought 2,000 shares of Parsley Energy stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $25.66 per share, with a total value of $51,320.00. Following the completion of the acquisition, the director now directly owns 112,128 shares in the company, valued at approximately $2,877,204.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bryan Sheffield bought 189,500 shares of Parsley Energy stock in a transaction dated Monday, February 26th. The shares were bought at an average cost of $26.34 per share, with a total value of $4,991,430.00. Following the completion of the acquisition, the insider now owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The disclosure for this purchase can be found here. Company insiders own 15.51% of the company’s stock.
PE has been the topic of several analyst reports. Barclays increased their target price on Parsley Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Scotiabank reaffirmed a “buy” rating and issued a $38.00 target price on shares of Parsley Energy in a research report on Wednesday, November 22nd. Northland Securities set a $36.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. Credit Suisse Group assumed coverage on Parsley Energy in a research note on Monday, December 11th. They issued an “outperform” rating and a $32.00 price target for the company. Finally, Robert W. Baird assumed coverage on Parsley Energy in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $33.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Parsley Energy presently has a consensus rating of “Buy” and a consensus target price of $36.17.
Parsley Energy Inc (NYSE PE) opened at $26.15 on Friday. Parsley Energy Inc has a 52 week low of $21.12 and a 52 week high of $33.07. The firm has a market capitalization of $8,502.48, a PE ratio of 43.29, a P/E/G ratio of 1.28 and a beta of -0.39. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37.
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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The business had revenue of $311.49 million during the quarter, compared to analysts’ expectations of $298.04 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 99.8% on a year-over-year basis. equities analysts forecast that Parsley Energy Inc will post 1.15 EPS for the current fiscal year.
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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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