Verition Fund Management LLC lowered its stake in shares of Parsley Energy Inc (NYSE:PE) by 63.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,879 shares of the oil and natural gas company’s stock after selling 17,258 shares during the quarter. Verition Fund Management LLC’s holdings in Parsley Energy were worth $286,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. lifted its position in 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 valued at $105,000 after purchasing an additional 2,864 shares during the period. LS Investment Advisors LLC lifted its position in Parsley Energy by 67.0% during the 1st quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock valued at $118,000 after purchasing an additional 1,639 shares during the period. American International Group Inc. acquired a new position in Parsley Energy during the 4th quarter valued at about $155,000. S&CO Inc. acquired a new position in Parsley Energy during the 1st quarter valued at about $255,000. Finally, Usca Ria LLC acquired a new position in Parsley Energy during the 1st quarter valued at about $268,000. Institutional investors own 85.12% of the company’s stock.
A number of brokerages recently weighed in on PE. SunTrust Banks set a $34.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Thursday, March 29th. National Alliance Securities upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. Seaport Global Securities downgraded shares of Parsley Energy from a “buy” rating to a “neutral” rating in a research report on Friday, May 4th. ValuEngine upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. Finally, Royal Bank of Canada set a $37.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Friday, April 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and an average price target of $37.87.
In other news, insider Colin Roberts sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $28.29, for a total transaction of $212,175.00. Following the completion of the transaction, the insider now directly owns 254,204 shares of the company’s stock, valued at approximately $7,191,431.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mike Hinson sold 41,681 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $31.95, for a total transaction of $1,331,707.95. Following the transaction, the insider now directly owns 422,626 shares of the company’s stock, valued at $13,502,900.70. The disclosure for this sale can be found here. Insiders have sold a total of 69,181 shares of company stock worth $2,161,883 over the last 90 days. Corporate insiders own 13.17% of the company’s stock.
Shares of PE stock opened at $30.28 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 38.73, a P/E/G ratio of 0.60 and a beta of -0.51. Parsley Energy Inc has a 52 week low of $21.12 and a 52 week high of $33.43.
Parsley Energy (NYSE:PE) last announced its earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.24 by $0.07. The firm had revenue of $392.70 million for the quarter, compared to the consensus estimate of $348.64 million. Parsley Energy had a net margin of 13.82% and a return on equity of 3.71%. The business’s quarterly revenue was up 95.5% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. analysts forecast that Parsley Energy Inc will post 1.7 EPS for the current year.
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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