Blue Sky Asset Management LLC acquired a new stake in Parsley Energy, Inc. (NYSE:PE) during the second quarter, Holdings Channel reports. The firm acquired 34,680 shares of the oil and natural gas company’s stock, valued at approximately $962,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. raised its position in shares of Parsley Energy by 42.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,630 shares of the oil and natural gas company’s stock valued at $171,000 after buying an additional 1,678 shares during the period. Columbus Circle Investors raised its position in shares of Parsley Energy by 521.6% in the first quarter. Columbus Circle Investors now owns 1,734,743 shares of the oil and natural gas company’s stock valued at $56,396,000 after buying an additional 1,455,672 shares during the period. Quantitative Systematic Strategies LLC bought a new position in shares of Parsley Energy during the first quarter valued at approximately $284,000. DnB Asset Management AS bought a new position in shares of Parsley Energy during the first quarter valued at approximately $682,000. Finally, Addison Capital Co bought a new position in shares of Parsley Energy during the first quarter valued at approximately $460,000. Institutional investors and hedge funds own 91.14% of the company’s stock.
Shares of Parsley Energy, Inc. (NYSE PE) opened at 25.65 on Wednesday. The stock has a market cap of $6.30 billion, a P/E ratio of 143.30 and a beta of -0.09. Parsley Energy, Inc. has a one year low of $24.68 and a one year high of $39.82. The stock’s 50 day moving average is $27.70 and its 200-day moving average is $30.55.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. Parsley Energy had a return on equity of 2.06% and a net margin of 5.23%. The business had revenue of $213.68 million for the quarter, compared to analysts’ expectations of $216.54 million. During the same quarter in the previous year, the firm posted $0.04 EPS. Parsley Energy’s revenue was up 99.9% on a year-over-year basis. On average, equities analysts forecast that Parsley Energy, Inc. will post $0.53 EPS for the current year.
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Several research analysts have commented on the stock. FBR & Co restated a “buy” rating on shares of Parsley Energy in a report on Monday, May 15th. Scotiabank set a $43.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Saturday, May 6th. UBS AG reiterated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. Credit Suisse Group reiterated an “outperform” rating and issued a $45.00 price target on shares of Parsley Energy in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $40.62.
In other Parsley Energy news, Director A R. Alameddine purchased 3,500 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $31.65 per share, for a total transaction of $110,775.00. Following the completion of the purchase, the director now owns 94,888 shares of the company’s stock, valued at $3,003,205.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bryan Sheffield sold 1,687,500 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $31.42, for a total value of $53,021,250.00. Following the sale, the insider now owns 12,059,224 shares in the company, valued at approximately $378,900,818.08. The disclosure for this sale can be found here. 15.51% of the stock is currently owned by insiders.
About Parsley Energy
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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