Lisanti Capital Growth LLC Grows Position in Parsley Energy Inc (PE)

Lisanti Capital Growth LLC lifted its position in Parsley Energy Inc (NYSE:PE) by 29.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,730 shares of the oil and natural gas company’s stock after acquiring an additional 5,808 shares during the period. Lisanti Capital Growth LLC’s holdings in Parsley Energy were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PE. Envestnet Asset Management Inc. grew its position in Parsley Energy by 487.2% during the 2nd 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 period. MHI Funds LLC acquired a new stake in Parsley Energy during the 2nd quarter worth about $163,000. Deprince Race & Zollo Inc. acquired a new stake in Parsley Energy during the 2nd quarter worth about $212,000. Fox Run Management L.L.C. acquired a new stake in Parsley Energy during the 2nd quarter worth about $224,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Parsley Energy during the 2nd quarter worth about $286,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. 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 Parsley Energy and gave the stock a “hold” rating in a research report on Wednesday, August 8th. Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded Parsley Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Wolfe Research downgraded Parsley Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 17th. Five investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.33.

In related news, Director Hemang Desai purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were purchased 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 of the company’s stock, valued at approximately $871,125.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan Sheffield sold 2,500,000 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $28.15, for a total transaction of $70,375,000.00. Following the completion of the transaction, the insider now directly owns 9,033,063 shares in the company, valued at $254,280,723.45. The disclosure for this sale can be found here. 13.17% of the stock is owned by company insiders.

NYSE:PE opened at $24.47 on Friday. Parsley Energy Inc has a 52 week low of $21.12 and a 52 week high of $33.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.70. The stock has a market cap of $7.98 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 0.50 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $493.44 million. During the same period last year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 112.0% on a year-over-year basis. As a group, analysts expect that Parsley Energy Inc will post 1.65 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Parsley Energy (NYSE:PE)

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