Channing Capital Management LLC Has $17.25 Million Position in Parsley Energy Inc (PE)

Channing Capital Management LLC lifted its holdings in Parsley Energy Inc (NYSE:PE) by 48.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,762 shares of the oil and natural gas company’s stock after buying an additional 193,184 shares during the quarter. Channing Capital Management LLC’s holdings in Parsley Energy were worth $17,251,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Hartree Partners LP grew its position in Parsley Energy by 122.6% during the third quarter. Hartree Partners LP now owns 75,700 shares of the oil and natural gas company’s stock valued at $2,214,000 after acquiring an additional 41,700 shares during the period. William Blair Investment Management LLC grew its position in Parsley Energy by 3.7% during the third quarter. William Blair Investment Management LLC now owns 5,149,134 shares of the oil and natural gas company’s stock valued at $150,613,000 after acquiring an additional 182,921 shares during the period. GSA Capital Partners LLP purchased a new stake in Parsley Energy during the third quarter valued at about $1,058,000. United Services Automobile Association grew its position in Parsley Energy by 2,088.7% during the third quarter. United Services Automobile Association now owns 861,900 shares of the oil and natural gas company’s stock valued at $25,211,000 after acquiring an additional 822,520 shares during the period. Finally, Standard Life Aberdeen plc grew its position in Parsley Energy by 1,436.6% during the third quarter. Standard Life Aberdeen plc now owns 192,733 shares of the oil and natural gas company’s stock valued at $5,639,000 after acquiring an additional 180,190 shares during the period. Hedge funds and other institutional investors own 87.91% of the company’s stock.

In other news, Director Hemang Desai acquired 1,000 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were purchased at an average price of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the purchase, the director now directly owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director A R. Alameddine acquired 5,000 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were purchased at an average price of $21.10 per share, for a total transaction of $105,500.00. Following the purchase, the director now directly owns 122,643 shares of the company’s stock, valued at $2,587,767.30. The disclosure for this purchase can be found here. Corporate insiders own 13.17% of the company’s stock.

PE has been the subject of a number of research reports. Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Wednesday, August 8th. Williams Capital set a $38.00 price target on Parsley Energy and gave the company a “hold” rating in a research report on Wednesday, August 8th. Jefferies Financial Group boosted their price target on Parsley Energy from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. Piper Jaffray Companies reissued a “buy” rating and set a $47.00 price target on shares of Parsley Energy in a research report on Thursday, August 16th. Finally, KLR Group reaffirmed a “buy” rating and issued a $43.00 target price on shares of Parsley Energy in a research report on Monday, August 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.22.

Shares of NYSE PE opened at $20.13 on Monday. Parsley Energy Inc has a 52-week low of $19.98 and a 52-week high of $33.43. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 0.42 and a beta of -0.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 0.70.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $493.44 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Parsley Energy’s revenue for the quarter was up 112.0% compared to the same quarter last year. As a group, equities research analysts predict that Parsley Energy Inc will post 1.65 EPS for the current fiscal year.

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Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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

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