Icon Advisers Inc. Co. lessened its stake in shares of Parsley Energy Inc (NYSE:PE) by 6.8% during the third quarter, Holdings Channel reports. The institutional investor owned 764,117 shares of the oil and natural gas company’s stock after selling 55,326 shares during the period. Parsley Energy makes up approximately 1.9% of Icon Advisers Inc. Co.’s portfolio, making the stock its 7th biggest position. Icon Advisers Inc. Co.’s holdings in Parsley Energy were worth $22,350,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its stake in shares of Parsley Energy by 487.2% in the second quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock worth $124,000 after purchasing an additional 3,376 shares during the last quarter. MHI Funds LLC bought a new stake in shares of Parsley Energy in the second quarter worth $163,000. Deprince Race & Zollo Inc. bought a new stake in shares of Parsley Energy in the second quarter worth $212,000. Fox Run Management L.L.C. bought a new stake in shares of Parsley Energy in the second quarter worth $224,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Parsley Energy in the first quarter worth $258,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Hemang Desai acquired 1,000 shares of Parsley Energy stock in a transaction on Tuesday, September 4th. The stock was acquired at an average cost of $27.32 per share, with a total value of $27,320.00. Following the transaction, the director now owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan Sheffield sold 2,500,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 9,033,063 shares of the company’s stock, valued at $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 worth $78,318,180 in the last 90 days. 13.17% of the stock is currently owned by company insiders.
PE opened at $25.46 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. Parsley Energy Inc has a fifty-two week low of $21.12 and a fifty-two week high of $33.43. The stock has a market capitalization of $7.83 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 0.51 and a beta of -0.13.
Parsley Energy (NYSE:PE) last posted its earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Parsley Energy had a net margin of 21.70% and a return on equity of 6.84%. The company had revenue of $511.00 million for the quarter, compared to analyst estimates of $493.44 million. During the same quarter in the prior year, the business posted $0.12 EPS. The firm’s revenue was up 112.0% compared to the same quarter last year. Equities analysts forecast that Parsley Energy Inc will post 1.62 EPS for the current fiscal year.
Several brokerages recently weighed in on PE. Zacks Investment Research cut shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Susquehanna Bancshares assumed coverage on shares of Parsley Energy in a research report on Wednesday, July 11th. They set a “positive” rating and a $38.00 price target on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $49.00 price target on shares of Parsley Energy in a research report on Friday, July 20th. Williams Capital set a $38.00 price target on shares of Parsley Energy and gave the company a “hold” rating in a research report on Wednesday, August 8th. Finally, Stifel Nicolaus set a $58.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Parsley Energy presently has a consensus rating of “Buy” and an average price target of $38.33.
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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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