Highland Capital Management LLC acquired a new position in shares of Parsley Energy Inc (NYSE:PE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,149 shares of the oil and natural gas company’s stock, valued at approximately $502,000.
Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Parsley Energy by 20.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock worth $208,786,000 after acquiring an additional 1,156,137 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Parsley Energy by 11.6% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,950 shares of the oil and natural gas company’s stock valued at $877,000 after purchasing an additional 3,008 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Parsley Energy by 17.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 955,564 shares of the oil and natural gas company’s stock valued at $28,935,000 after purchasing an additional 145,243 shares during the last quarter. Luminus Management LLC lifted its holdings in Parsley Energy by 133.3% during the 2nd quarter. Luminus Management LLC now owns 1,633,291 shares of the oil and natural gas company’s stock valued at $49,456,000 after purchasing an additional 933,291 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Parsley Energy by 14.9% during the 2nd quarter. US Bancorp DE now owns 1,159,446 shares of the oil and natural gas company’s stock valued at $35,108,000 after purchasing an additional 150,615 shares during the last quarter. 84.43% of the stock is owned by institutional investors.
In other Parsley Energy news, Director Hemang Desai purchased 1,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was bought at an average price of $27.32 per share, for a total transaction of $27,320.00. Following the transaction, the director now directly owns 31,886 shares in the company, valued at $871,125.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bryan Sheffield sold 2,500,000 shares of Parsley Energy stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $28.15, for a total transaction of $70,375,000.00. Following the sale, the insider now owns 9,033,063 shares of the company’s stock, valued at approximately $254,280,723.45. The disclosure for this sale can be found here. Insiders sold a total of 2,763,328 shares of company stock valued at $78,318,180 in the last 90 days. Corporate insiders own 13.17% of the company’s stock.
PE opened at $28.09 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 40.71, a P/E/G ratio of 0.60 and a beta of -0.55. Parsley Energy Inc has a 1-year low of $21.12 and a 1-year high of $33.43.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%. As a group, equities research analysts forecast that Parsley Energy Inc will post 1.58 EPS for the current year.
Several equities analysts recently issued reports on PE shares. JPMorgan Chase & Co. set a $49.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Tuesday, July 3rd. Zacks Investment Research downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. TD Securities started coverage on shares of Parsley Energy in a report on Thursday, July 5th. They set a “buy” rating and a $37.00 price target for the company. Susquehanna Bancshares started coverage on shares of Parsley Energy in a report on Wednesday, July 11th. They set a “positive” rating and a $38.00 price target for the company. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $49.00 price target on shares of Parsley Energy in a report on Friday, July 20th. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.60.
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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