Bank of New York Mellon Corp boosted its holdings in shares of Parsley Energy Inc (NYSE:PE) by 20.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,895,147 shares of the oil and natural gas company’s stock after purchasing an additional 1,156,137 shares during the period. Bank of New York Mellon Corp’s holdings in Parsley Energy were worth $208,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of PE. Public Employees Retirement System of Ohio raised its position in shares of Parsley Energy by 6.1% in the second quarter. Public Employees Retirement System of Ohio now owns 174,882 shares of the oil and natural gas company’s stock worth $5,295,000 after acquiring an additional 9,995 shares during the period. Verition Fund Management LLC raised its position in shares of Parsley Energy by 223.7% in the second quarter. Verition Fund Management LLC now owns 31,978 shares of the oil and natural gas company’s stock worth $968,000 after acquiring an additional 22,099 shares during the period. Millennium Management LLC raised its position in shares of Parsley Energy by 37.7% in the second quarter. Millennium Management LLC now owns 5,783,131 shares of the oil and natural gas company’s stock worth $175,113,000 after acquiring an additional 1,583,137 shares during the period. Soros Fund Management LLC acquired a new position in shares of Parsley Energy in the second quarter worth about $5,299,000. Finally, SCP Investment LP acquired a new position in shares of Parsley Energy in the second quarter worth about $1,944,000. Institutional investors own 84.13% of the company’s stock.
In related news, insider Mike Hinson sold 250,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $30.24, for a total transaction of $7,560,000.00. Following the completion of the sale, the insider now owns 663,978 shares of the company’s stock, valued at approximately $20,078,694.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Hemang Desai acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were acquired at an average cost of $27.32 per share, with a total value of $27,320.00. Following the purchase, the director now owns 31,886 shares in the company, valued at approximately $871,125.52. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 2,763,328 shares of company stock valued at $78,318,180. 13.17% of the stock is owned by corporate insiders.
PE has been the subject of a number of research reports. Stifel Nicolaus set a $58.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Piper Jaffray Companies reissued a “buy” rating and set a $49.00 target price on shares of Parsley Energy in a research note on Friday, July 20th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Wednesday, July 11th. KLR Group reissued a “buy” rating and set a $43.00 target price on shares of Parsley Energy in a research note on Monday, August 20th. Finally, Jefferies Financial Group boosted their target price on shares of Parsley Energy from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.69.
Shares of NYSE PE opened at $24.73 on Friday. Parsley Energy Inc has a 12-month low of $21.12 and a 12-month high of $33.43. The stock has a market cap of $7.47 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 0.48 and a beta of -0.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.93.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%. The company had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $493.44 million. During the same quarter in the prior year, the company earned $0.12 EPS. Parsley Energy’s revenue was up 112.0% compared to the same quarter last year. As a group, equities analysts forecast that Parsley Energy Inc will post 1.62 earnings per share for the current year.
About Parsley Energy
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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