Millennium Management LLC increased its holdings in Parsley Energy (NYSE:PE) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,900,711 shares of the oil and natural gas company’s stock after acquiring an additional 551,898 shares during the quarter. Millennium Management LLC owned approximately 1.56% of Parsley Energy worth $144,277,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in Parsley Energy by 13.0% during the second quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock valued at $228,000 after buying an additional 945 shares in the last quarter. Amalgamated Bank raised its position in shares of Parsley Energy by 5.5% during the 3rd quarter. Amalgamated Bank now owns 42,989 shares of the oil and natural gas company’s stock worth $1,132,000 after purchasing an additional 2,258 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Parsley Energy by 8.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 29,229 shares of the oil and natural gas company’s stock worth $861,000 after purchasing an additional 2,368 shares during the period. Advisors Asset Management Inc. raised its position in shares of Parsley Energy by 6.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 44,029 shares of the oil and natural gas company’s stock worth $1,160,000 after purchasing an additional 2,730 shares during the period. Finally, Assetmark Inc. raised its position in shares of Parsley Energy by 417.5% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after purchasing an additional 2,864 shares during the period. Institutional investors and hedge funds own 81.97% of the company’s stock.
In other news, insider Colin Roberts sold 7,500 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $28.29, for a total value of $212,175.00. Following the sale, the insider now directly owns 254,204 shares of the company’s stock, valued at $7,191,431.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ron Brokmeyer purchased 2,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $25.66 per share, for a total transaction of $51,320.00. Following the completion of the transaction, the director now owns 112,128 shares of the company’s stock, valued at approximately $2,877,204.48. The disclosure for this purchase can be found here. Corporate insiders own 15.51% of the company’s stock.
A number of analysts have recently weighed in on PE shares. Morgan Stanley increased their price target 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. National Alliance Securities began coverage on Parsley Energy in a report on Friday, February 16th. They issued a “hold” rating and a $25.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (down from $41.00) on shares of Parsley Energy in a report on Friday, March 2nd. Stifel Nicolaus set a $57.00 price objective on Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, March 28th. Finally, Deutsche Bank decreased their price target on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.67.
Shares of NYSE:PE opened at $26.95 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.37. The firm has a market cap of $8,664.04, a P/E ratio of 39.06, a PEG ratio of 1.37 and a beta of -0.50. Parsley Energy has a 1 year low of $21.12 and a 1 year high of $32.90.
Parsley Energy (NYSE:PE) last posted its earnings results 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 firm had revenue of $311.49 million for the quarter, compared to the consensus estimate of $298.04 million. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The business’s quarterly revenue was up 99.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. analysts anticipate 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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