GeoSphere Capital Management Increases Stake in Parsley Energy, Inc. (PE)

GeoSphere Capital Management increased its position in Parsley Energy, Inc. (NYSE:PE) by 21.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,000 shares of the oil and natural gas company’s stock after buying an additional 17,000 shares during the period. Parsley Energy comprises approximately 2.8% of GeoSphere Capital Management’s holdings, making the stock its 12th largest position. GeoSphere Capital Management’s holdings in Parsley Energy were worth $3,154,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PE. State Board of Administration of Florida Retirement System boosted its position in Parsley Energy by 9.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 177,769 shares of the oil and natural gas company’s stock worth $6,265,000 after buying an additional 15,344 shares in the last quarter. Comerica Bank boosted its position in Parsley Energy by 71.6% in the fourth quarter. Comerica Bank now owns 16,717 shares of the oil and natural gas company’s stock worth $611,000 after buying an additional 6,974 shares in the last quarter. State Street Corp boosted its position in Parsley Energy by 21.9% in the fourth quarter. State Street Corp now owns 4,024,697 shares of the oil and natural gas company’s stock worth $141,828,000 after buying an additional 722,433 shares in the last quarter. Tredje AP fonden bought a new position in Parsley Energy during the fourth quarter worth approximately $342,000. Finally, Keybank National Association OH boosted its position in Parsley Energy by 38.6% in the fourth quarter. Keybank National Association OH now owns 25,616 shares of the oil and natural gas company’s stock worth $903,000 after buying an additional 7,140 shares in the last quarter. 91.42% of the stock is owned by institutional investors and hedge funds.

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

Shares of Parsley Energy, Inc. (PE) traded up 1.80% during midday trading on Tuesday, reaching $26.53. 7,842,878 shares of the company’s stock traded hands. The company’s market capitalization is $6.54 billion. The company has a 50-day moving average of $29.93 and a 200-day moving average of $32.41. Parsley Energy, Inc. has a one year low of $24.12 and a one year high of $39.82.

Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. The company had revenue of $200.90 million during the quarter, compared to analyst estimates of $181.23 million. Parsley Energy had a negative net margin of 4.26% and a positive return on equity of 2.04%. Parsley Energy’s quarterly revenue was up 222.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) earnings per share. Equities research analysts anticipate that Parsley Energy, Inc. will post $0.69 EPS for the current year.

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A number of equities research analysts have recently issued reports on PE shares. Scotiabank set a $45.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Saturday, February 25th. FBR & Co set a $42.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Thursday, June 1st. BMO Capital Markets set a $40.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Thursday, May 4th. Citigroup Inc. reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Parsley Energy in a research note on Tuesday, March 14th. Four equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $41.09.

In related news, insider Ryan Dalton sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $32.56, for a total value of $976,800.00. Following the completion of the sale, the insider now directly owns 329,957 shares of the company’s stock, valued at $10,743,399.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Colin Roberts sold 15,598 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $32.10, for a total transaction of $500,695.80. Following the completion of the sale, the insider now directly owns 235,726 shares of the company’s stock, valued at $7,566,804.60. The disclosure for this sale can be found here. Insiders have sold 1,739,498 shares of company stock valued at $54,689,426 over the last three months. Insiders own 15.51% of the company’s stock.

Parsley Energy Company Profile

Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.

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