Rothschild Capital Partners LLC Buys New Stake in Parsley Energy Inc. (PE)
Rothschild Capital Partners LLC acquired a new stake in Parsley Energy Inc. (NYSE:PE) during the second quarter, Holdings Channel reports. The firm acquired 89,675 shares of the company’s stock, valued at approximately $2,427,000. Parsley Energy makes up about 1.3% of Rothschild Capital Partners LLC’s portfolio, making the stock its 27th largest position.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock valued at $151,000 after buying an additional 3,814 shares in the last quarter. Loeb Partners Corp acquired a new stake in Parsley Energy during the second quarter valued at approximately $235,000. Meeder Asset Management Inc. raised its stake in Parsley Energy by 62.7% in the first quarter. Meeder Asset Management Inc. now owns 11,468 shares of the company’s stock valued at $259,000 after buying an additional 4,419 shares in the last quarter. Nikko Asset Management Americas Inc. acquired a new stake in Parsley Energy during the first quarter valued at approximately $262,000. Finally, IBM Retirement Fund acquired a new stake in Parsley Energy during the second quarter valued at approximately $413,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) traded down 2.07% during trading on Tuesday, reaching $32.10. The company had a trading volume of 2,213,997 shares. The stock has a 50 day moving average price of $33.19 and a 200 day moving average price of $26.91. The firm’s market capitalization is $5.50 billion. Parsley Energy Inc. has a 12 month low of $13.84 and a 12 month high of $35.00.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The firm had revenue of $106.30 million for the quarter, compared to analyst estimates of $92.04 million. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. The firm’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. On average, equities research analysts forecast that Parsley Energy Inc. will post $0.10 EPS for the current year.
Several equities research analysts recently commented on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Parsley Energy in a research report on Saturday, June 4th. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, June 30th. Barclays PLC upped their target price on shares of Parsley Energy from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Canaccord Genuity restated a “buy” rating on shares of Parsley Energy in a report on Thursday, May 26th. Finally, Wunderlich began coverage on shares of Parsley Energy in a report on Friday, June 17th. They issued a “buy” rating and a $32.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and a consensus target price of $30.81.
In other news, VP Colin Roberts sold 25,000 shares of Parsley Energy stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $32.77, for a total transaction of $819,250.00. Following the completion of the sale, the vice president now directly owns 243,770 shares in the company, valued at approximately $7,988,342.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bryan Sheffield sold 1,100,000 shares of Parsley Energy stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $32.15, for a total value of $35,365,000.00. Following the sale, the insider now owns 13,169,935 shares of the company’s stock, valued at $423,413,410.25. The disclosure for this sale can be found here. Insiders own 24.17% of the company’s stock.
Parsley Energy Company Profile
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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