Parsley Energy, Inc. (PE) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. lifted its holdings in shares of Parsley Energy, Inc. (NYSE:PE) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,170 shares of the oil and natural gas company’s stock after acquiring an additional 2,200 shares during the period. Prudential Financial Inc.’s holdings in Parsley Energy were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PE. BlackRock Inc. raised its position in shares of Parsley Energy by 6,471.4% during the 1st quarter. BlackRock Inc. now owns 11,215,157 shares of the oil and natural gas company’s stock worth $364,606,000 after acquiring an additional 11,044,492 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Parsley Energy by 47.3% during the 1st quarter. Vanguard Group Inc. now owns 18,418,741 shares of the oil and natural gas company’s stock worth $598,793,000 after acquiring an additional 5,913,072 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Parsley Energy by 250.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,264,371 shares of the oil and natural gas company’s stock worth $201,586,000 after acquiring an additional 5,194,292 shares in the last quarter. State Street Corp raised its position in shares of Parsley Energy by 45.0% during the 1st quarter. State Street Corp now owns 5,834,217 shares of the oil and natural gas company’s stock worth $189,683,000 after acquiring an additional 1,809,520 shares in the last quarter. Finally, FMR LLC raised its position in shares of Parsley Energy by 29.7% during the 1st quarter. FMR LLC now owns 7,198,268 shares of the oil and natural gas company’s stock worth $234,016,000 after acquiring an additional 1,649,919 shares in the last quarter. 77.94% of the stock is currently owned by institutional investors and hedge funds.

PE has been the topic of several research analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $46.00 target price on shares of Parsley Energy in a research report on Sunday, September 3rd. Citigroup Inc. set a $50.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Friday, July 21st. ValuEngine lowered Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Northland Securities set a $43.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, August 21st. Finally, Wolfe Research started coverage on Parsley Energy in a research report on Thursday, June 15th. They set an “outperform” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Parsley Energy presently has a consensus rating of “Buy” and an average target price of $40.96.

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Parsley Energy, Inc. (NYSE:PE) opened at 26.96 on Thursday. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 150.61 and a beta of -0.05. Parsley Energy, Inc. has a 12-month low of $22.98 and a 12-month high of $39.82. The stock has a 50 day moving average price of $25.72 and a 200-day moving average price of $28.13.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). The company had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The firm’s revenue for the quarter was up 99.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 earnings per share. Equities analysts forecast that Parsley Energy, Inc. will post $0.48 earnings per share for the current year.

Parsley Energy 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.

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

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