Credit Suisse AG raised its position in shares of Parsley Energy Inc (NYSE:PE) by 42.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 502,991 shares of the oil and natural gas company’s stock after acquiring an additional 149,203 shares during the quarter. Credit Suisse AG owned approximately 0.16% of Parsley Energy worth $14,713,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in PE. BlackRock Inc. raised its holdings in shares of Parsley Energy by 18.7% during the second quarter. BlackRock Inc. now owns 13,439,196 shares of the oil and natural gas company’s stock valued at $406,938,000 after acquiring an additional 2,112,853 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of Parsley Energy by 2,702.4% during the third quarter. Eagle Asset Management Inc. now owns 2,153,221 shares of the oil and natural gas company’s stock valued at $62,981,000 after acquiring an additional 2,076,385 shares during the last quarter. Morgan Stanley raised its holdings in shares of Parsley Energy by 708.6% during the second quarter. Morgan Stanley now owns 2,163,584 shares of the oil and natural gas company’s stock valued at $65,515,000 after acquiring an additional 1,896,011 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Parsley Energy by 37.7% during the second quarter. Millennium Management LLC now owns 5,783,131 shares of the oil and natural gas company’s stock valued at $175,113,000 after acquiring an additional 1,583,137 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Parsley Energy by 20.1% during the second quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock valued at $208,786,000 after acquiring an additional 1,156,137 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Parsley Energy from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, November 5th. Goldman Sachs Group upgraded Parsley Energy from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Tuesday, November 27th. Williams Capital set a $38.00 price target on Parsley Energy and gave the company a “hold” rating in a research report on Friday, November 2nd. Wolfe Research lowered Parsley Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 17th. Finally, Piper Jaffray Companies set a $46.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $37.22.
In other Parsley Energy news, Director A R. Alameddine acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was bought at an average cost of $21.10 per share, for a total transaction of $105,500.00. Following the completion of the transaction, the director now owns 122,643 shares of the company’s stock, valued at approximately $2,587,767.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 7,000 shares of company stock valued at $145,490 over the last quarter. 13.17% of the stock is currently owned by company insiders.
Shares of Parsley Energy stock opened at $19.81 on Thursday. The company has a market capitalization of $6.38 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 0.43 and a beta of -0.16. Parsley Energy Inc has a fifty-two week low of $19.80 and a fifty-two week high of $33.43. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.35.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $511.00 million during the quarter, compared to analyst estimates of $493.44 million. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The firm’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Equities research analysts predict that Parsley Energy Inc will post 1.65 EPS for the current year.
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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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