Raymond James Financial Services Advisors Inc. lessened its stake in Parsley Energy, Inc. (NYSE:PE) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,926 shares of the oil and natural gas company’s stock after selling 6,323 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Parsley Energy were worth $788,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PE. Advisor Group Inc. lifted its stake in shares of Parsley Energy by 23.9% in 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 acquiring an additional 781 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Parsley Energy by 15.8% in 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 acquiring an additional 900 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position 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 purchasing an additional 735 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in Parsley Energy during the 2nd quarter valued at approximately $213,000. Finally, Sentry Investment Management LLC bought a new position in Parsley Energy during the 2nd quarter valued at approximately $216,000. 80.16% of the stock is owned by institutional investors.
Parsley Energy, Inc. (PE) traded up $0.58 during mid-day trading on Monday, hitting $27.44. The company’s stock had a trading volume of 4,758,600 shares, compared to its average volume of 4,844,761. Parsley Energy, Inc. has a 1 year low of $22.98 and a 1 year high of $39.42. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $8,626.78, a P/E ratio of 72.21 and a beta of -0.05.
A number of research analysts have commented on the company. KeyCorp reaffirmed a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a research report on Tuesday, September 19th. Barclays lowered their price target on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Imperial Capital assumed coverage on Parsley Energy in a research report on Tuesday, August 15th. They set an “outperform” rating and a $36.00 price target for the company. US Capital Advisors reaffirmed an “overweight” rating on shares of Parsley Energy in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Parsley Energy in a research report on Sunday, September 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.23.
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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.
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