BlackRock Investment Management LLC boosted its stake in Parsley Energy Inc. (NYSE:PE) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 605,885 shares of the company’s stock after buying an additional 2,134 shares during the period. BlackRock Investment Management LLC owned 0.35% of Parsley Energy worth $20,303,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of PE. KBC Group NV purchased a new stake in Parsley Energy during the third quarter valued at about $104,000. Thompson Davis & CO. Inc. raised its stake in Parsley Energy by 93.8% in the second quarter. Thompson Davis & CO. Inc. now owns 3,875 shares of the company’s stock valued at $105,000 after buying an additional 1,875 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Parsley Energy during the second quarter valued at about $131,000. World Asset Management Inc purchased a new stake in Parsley Energy during the third quarter valued at about $203,000. Finally, First American Bank purchased a new stake in Parsley Energy during the third quarter valued at about $264,000. Institutional investors and hedge funds own 91.34% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) traded down 0.42% on Monday, hitting $35.56. 990,547 shares of the stock were exchanged. The company has a 50-day moving average price of $35.58 and a 200 day moving average price of $32.41. The company’s market cap is $6.39 billion. Parsley Energy Inc. has a 12 month low of $14.51 and a 12 month high of $39.82.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. The firm earned $132.67 million during the quarter, compared to analyst estimates of $82.30 million. Parsley Energy had a negative net margin of 15.86% and a positive return on equity of 0.24%. The business’s quarterly revenue was up 106.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) EPS. Equities analysts forecast that Parsley Energy Inc. will post $0.11 EPS for the current fiscal year.
Several research firms recently issued reports on PE. Drexel Hamilton reiterated a “buy” rating and set a $44.00 price target on shares of Parsley Energy in a research report on Wednesday, December 21st. KeyCorp increased their price target on shares of Parsley Energy from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 22nd. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, October 12th. FBR & Co assumed coverage on shares of Parsley Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $41.00 price target on the stock. Finally, Nomura reissued a “buy” rating and issued a $17.00 price objective on shares of Parsley Energy in a research note on Monday, September 26th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $33.65.
In related news, VP Colin Roberts sold 5,000 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $34.92, for a total transaction of $174,600.00. Following the completion of the sale, the vice president now directly owns 238,770 shares in the company, valued at approximately $8,337,848.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan Sheffield sold 312,500 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $34.89, for a total transaction of $10,903,125.00. Following the sale, the insider now owns 13,033,741 shares of the company’s stock, valued at $454,747,223.49. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by insiders.
About Parsley Energy
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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