Parsley Energy, Inc. (PE) Shares Bought by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC raised its position in shares of Parsley Energy, Inc. (NYSE:PE) by 60.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,629 shares of the oil and natural gas company’s stock after buying an additional 105,735 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.11% of Parsley Energy worth $7,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its holdings in Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 781 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Parsley Energy by 6.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares in the last quarter. American International Group Inc. grew its holdings in Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after buying an additional 180 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after buying an additional 900 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after buying an additional 735 shares in the last quarter. Institutional investors and hedge funds own 77.94% of the company’s stock.

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Several equities analysts have weighed in on the company. BMO Capital Markets set a $35.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Tuesday, October 10th. BidaskClub lowered Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Northland Securities set a $43.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Monday, August 21st. Barclays PLC lowered their price objective on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, August 8th. Finally, Seaport Global Securities raised Parsley Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $30.00 to $32.00 in a research note on Friday, August 11th. Three analysts have rated the stock with a sell rating and twenty-three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.00.

Shares of Parsley Energy, Inc. (NYSE PE) opened at 26.72 on Wednesday. The company’s 50 day moving average price is $25.82 and its 200-day moving average price is $28.03. Parsley Energy, Inc. has a 52 week low of $22.98 and a 52 week high of $39.82. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 149.27 and a beta of -0.05.

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

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.

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

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