First Mercantile Trust Co. Increases Stake in Parsley Energy Inc. (PE)
First Mercantile Trust Co. boosted its stake in Parsley Energy Inc. (NYSE:PE) by 11.1% during the second quarter, Holdings Channel reports. The firm owned 19,080 shares of the company’s stock after buying an additional 1,910 shares during the period. First Mercantile Trust Co.’s holdings in Parsley Energy were worth $516,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. 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 worth $105,000 after buying an additional 1,875 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in Parsley Energy during the second quarter worth approximately $131,000. BlackRock Inc. boosted its position in Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock worth $151,000 after buying an additional 3,814 shares in the last quarter. Loeb Partners Corp acquired a new position in Parsley Energy during the second quarter worth approximately $235,000. Finally, Meeder Asset Management Inc. boosted its position in Parsley Energy by 62.7% in the first quarter. Meeder Asset Management Inc. now owns 11,468 shares of the company’s stock worth $259,000 after buying an additional 4,419 shares in the last quarter. Institutional investors own 84.49% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) opened at 32.27 on Friday. Parsley Energy Inc. has a 12 month low of $13.84 and a 12 month high of $35.00. The firm’s market cap is $5.53 billion. The company has a 50-day moving average of $33.44 and a 200-day moving average of $26.99.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. Parsley Energy had a negative return on equity of 0.66% and a negative net margin of 18.26%. The firm earned $106.30 million during the quarter, compared to analyst estimates of $92.04 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. Equities analysts forecast that Parsley Energy Inc. will post $0.10 EPS for the current fiscal year.
A number of research analysts recently commented on PE shares. Canaccord Genuity reiterated a “buy” rating on shares of Parsley Energy in a report on Thursday, May 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $34.00 price objective (up from $30.00) on shares of Parsley Energy in a report on Monday, July 18th. Zacks Investment Research upgraded Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, June 30th. Wunderlich started coverage on Parsley Energy in a report on Friday, June 17th. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Deutsche Bank AG upped their price objective on Parsley Energy from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Six research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $31.20.
In other Parsley Energy news, insider Matthew Gallagher sold 30,300 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $33.89, for a total value of $1,026,867.00. Following the transaction, the insider now owns 637,006 shares in the company, valued at approximately $21,588,133.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Henry Smith sold 6,250 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $32.99, for a total transaction of $206,187.50. Following the completion of the transaction, the director now owns 30,861 shares in the company, valued at approximately $1,018,104.39. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding PE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parsley Energy Inc. (NYSE:PE).
Receive News & Ratings for Parsley Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.