Public Employees Retirement Association of Colorado Sells 9,647 Shares of Parsley Energy Inc (PE)

Public Employees Retirement Association of Colorado trimmed its position in shares of Parsley Energy Inc (NYSE:PE) by 23.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,802 shares of the oil and natural gas company’s stock after selling 9,647 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Parsley Energy were worth $594,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Parsley Energy by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 15,220,803 shares of the oil and natural gas company’s stock valued at $445,208,000 after purchasing an additional 865,292 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Parsley Energy by 4.0% during the 3rd quarter. Vanguard Group Inc now owns 23,467,865 shares of the oil and natural gas company’s stock valued at $686,436,000 after purchasing an additional 901,815 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Parsley Energy by 8.6% during the 4th quarter. DNB Asset Management AS now owns 30,191 shares of the oil and natural gas company’s stock valued at $482,000 after purchasing an additional 2,400 shares in the last quarter. Peregrine Capital Management LLC boosted its stake in shares of Parsley Energy by 243,059.7% during the 4th quarter. Peregrine Capital Management LLC now owns 826,743 shares of the oil and natural gas company’s stock valued at $13,211,000 after purchasing an additional 826,403 shares in the last quarter. Finally, Nippon Life Global Investors Americas Inc. boosted its stake in shares of Parsley Energy by 24.5% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 302,050 shares of the oil and natural gas company’s stock valued at $4,827,000 after purchasing an additional 59,360 shares in the last quarter. 83.23% of the stock is owned by hedge funds and other institutional investors.

In other Parsley Energy news, insider Colin Roberts sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $18.73, for a total transaction of $65,555.00. Following the completion of the sale, the insider now directly owns 274,926 shares of the company’s stock, valued at $5,149,363.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mike Hinson sold 41,727 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $18.43, for a total transaction of $769,028.61. Following the sale, the insider now directly owns 398,275 shares of the company’s stock, valued at $7,340,208.25. The disclosure for this sale can be found here. Insiders have sold 48,227 shares of company stock valued at $894,584 over the last three months. 12.14% of the stock is owned by corporate insiders.

Several research firms recently commented on PE. Stephens raised shares of Parsley Energy from an “equal” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research note on Tuesday, January 29th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Monday, April 8th. ValuEngine lowered shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Williams Capital reissued a “hold” rating and set a $26.00 price objective on shares of Parsley Energy in a research note on Thursday, May 2nd. Finally, TD Securities dropped their price objective on shares of Parsley Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $30.87.

PE opened at $20.85 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.43 and a quick ratio of 0.43. Parsley Energy Inc has a twelve month low of $14.17 and a twelve month high of $33.25. The company has a market cap of $6.60 billion, a PE ratio of 14.79, a P/E/G ratio of 0.34 and a beta of 0.41.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The company had revenue of $427.67 million for the quarter, compared to analysts’ expectations of $410.04 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts predict that Parsley Energy Inc will post 1.66 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.

See Also: How Investors Use a Balance Sheet

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

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