Gulf International Bank UK Ltd reduced its holdings in Parsley Energy Inc (NYSE:PE) by 2.3% in the 1st quarter, HoldingsChannel reports. The fund owned 65,571 shares of the oil and natural gas company’s stock after selling 1,571 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Parsley Energy were worth $1,900,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. LS Investment Advisors LLC increased its holdings in shares of Parsley Energy by 67.0% in the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock worth $118,000 after acquiring an additional 1,639 shares in the last quarter. American International Group Inc. grew its holdings in shares of Parsley Energy by 38.1% during the first quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock worth $210,000 after buying an additional 2,000 shares in the last quarter. BP Capital Fund Advisors LLC grew its holdings in shares of Parsley Energy by 1.1% during the first quarter. BP Capital Fund Advisors LLC now owns 190,030 shares of the oil and natural gas company’s stock worth $5,509,000 after buying an additional 2,101 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Parsley Energy by 7.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 31,421 shares of the oil and natural gas company’s stock worth $911,000 after buying an additional 2,192 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Parsley Energy by 0.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 395,247 shares of the oil and natural gas company’s stock worth $11,458,000 after buying an additional 2,209 shares in the last quarter. Institutional investors own 85.64% of the company’s stock.
PE has been the subject of a number of research reports. Credit Suisse Group decreased their price objective on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Piper Jaffray Companies reiterated a “buy” rating and set a $38.00 price objective on shares of Parsley Energy in a report on Friday, February 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price objective (down from $41.00) on shares of Parsley Energy in a report on Friday, March 2nd. Royal Bank of Canada set a $37.00 price objective on Parsley Energy and gave the stock a “buy” rating in a report on Friday, April 13th. Finally, Deutsche Bank initiated coverage on Parsley Energy in a research report on Thursday, February 1st. They set a “buy” rating and a $38.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $37.50.
PE opened at $30.78 on Thursday. Parsley Energy Inc has a 12-month low of $21.12 and a 12-month high of $33.43. The company has a market capitalization of $9.83 billion, a PE ratio of 44.61, a price-to-earnings-growth ratio of 0.70 and a beta of -0.50. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.37.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. Parsley Energy had a return on equity of 3.71% and a net margin of 13.82%. The company had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $348.64 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue was up 95.5% on a year-over-year basis. equities research analysts anticipate that Parsley Energy Inc will post 1.49 earnings per share for the current fiscal year.
In other news, Director Ron Brokmeyer purchased 2,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 112,128 shares in the company, valued at approximately $2,877,204.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Colin Roberts sold 7,500 shares of Parsley Energy 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 sale, the insider now directly owns 254,204 shares of the company’s stock, valued at $7,191,431.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,181 shares of company stock valued at $1,859,783. 13.17% of the stock is currently owned by insiders.
Parsley Energy 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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