Geode Capital Management LLC increased its position in Parsley Energy (NYSE:PE) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,882,692 shares of the oil and natural gas company’s stock after acquiring an additional 66,510 shares during the quarter. Geode Capital Management LLC owned about 0.60% of Parsley Energy worth $55,392,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PE. Assetmark Inc. increased its holdings in Parsley Energy by 417.5% in the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after acquiring an additional 2,864 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Parsley Energy in the 4th quarter worth about $128,000. American International Group Inc. purchased a new stake in Parsley Energy in the 4th quarter worth about $155,000. Trexquant Investment LP purchased a new stake in Parsley Energy in the 3rd quarter worth about $206,000. Finally, Teacher Retirement System of Texas purchased a new stake in Parsley Energy in the 3rd quarter worth about $209,000. 81.97% of the stock is owned by institutional investors.
A number of research analysts have weighed in on PE shares. Northland Securities set a $36.00 target price on Parsley Energy and gave the company a “buy” rating in a report on Monday, December 11th. Credit Suisse Group started coverage on Parsley Energy in a report on Monday, December 11th. They set an “outperform” rating and a $32.00 target price for the company. Robert W. Baird started coverage on Parsley Energy in a report on Tuesday, December 19th. They set an “outperform” rating and a $33.00 target price for the company. ValuEngine lowered Parsley Energy from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $41.00 target price on shares of Parsley Energy in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.67.
In related news, insider Colin Roberts sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $28.29, for a total value of $212,175.00. Following the completion of the sale, the insider now owns 254,204 shares in the company, valued at approximately $7,191,431.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bryan Sheffield bought 189,500 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the transaction, the insider now directly owns 11,533,063 shares in the company, valued at $303,780,879.42. The disclosure for this purchase can be found here. Insiders own 15.51% of the company’s stock.
Shares of NYSE PE traded down $0.81 during midday trading on Friday, hitting $26.95. 7,056,255 shares of the company’s stock were exchanged, compared to its average volume of 4,895,579. Parsley Energy has a 12-month low of $21.12 and a 12-month high of $32.90. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $8,793.92, a price-to-earnings ratio of 39.06, a PEG ratio of 1.39 and a beta of -0.50.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The company had revenue of $311.49 million during the quarter, compared to analyst estimates of $298.04 million. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. Parsley Energy’s revenue was up 99.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. analysts predict that Parsley Energy will post 1.1 earnings per share for the current year.
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Parsley Energy Company Profile
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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