Vanguard Group Inc. Boosts Stake in Parsley Energy Inc. (PE)
Vanguard Group Inc. raised its stake in Parsley Energy Inc. (NYSE:PE) by 37.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,665,055 shares of the company’s stock after buying an additional 2,895,325 shares during the period. Vanguard Group Inc. owned approximately 6.72% of Parsley Energy worth $288,596,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in PE. Boston Partners boosted its stake in Parsley Energy by 2.6% in the second quarter. Boston Partners now owns 16,650,072 shares of the company’s stock worth $450,551,000 after buying an additional 415,289 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Parsley Energy by 18.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,720,501 shares of the company’s stock worth $61,483,000 after buying an additional 425,385 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Parsley Energy by 3.4% in the first quarter. BlackRock Fund Advisors now owns 2,550,901 shares of the company’s stock worth $57,650,000 after buying an additional 83,483 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Parsley Energy by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,190,521 shares of the company’s stock worth $59,273,000 after buying an additional 28,205 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in Parsley Energy during the second quarter worth approximately $33,118,000. 84.49% of the stock is owned by hedge funds and other institutional investors.
Parsley Energy Inc. (NYSE:PE) opened at 35.35 on Monday. Parsley Energy Inc. has a 1-year low of $14.51 and a 1-year high of $35.93. The stock’s market capitalization is $6.05 billion. The stock has a 50 day moving average of $33.50 and a 200 day moving average of $28.00.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.10. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. The business earned $106.30 million during the quarter, compared to analysts’ expectations of $92.04 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was up 36.5% compared to the same quarter last year. On average, analysts expect that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
A number of research firms recently commented on PE. Stifel Nicolaus reissued a “buy” rating and set a $34.00 target price (up previously from $30.00) on shares of Parsley Energy in a research report on Monday, July 18th. Imperial Capital began coverage on shares of Parsley Energy in a report on Tuesday, July 26th. They issued an “outperform” rating and a $34.00 price target for the company. Zacks Investment Research cut shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Barclays PLC raised their price target on shares of Parsley Energy from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Finally, Goldman Sachs Group Inc. raised their price target on shares of Parsley Energy from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Six research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Parsley Energy presently has a consensus rating of “Buy” and a consensus price target of $30.93.
In other Parsley Energy news, insider Mike Hinson sold 25,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $27.42, for a total value of $685,500.00. Following the transaction, the insider now directly owns 646,653 shares of the company’s stock, valued at approximately $17,731,225.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bryan Sheffield sold 1,100,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $32.15, for a total transaction of $35,365,000.00. Following the completion of the transaction, the insider now directly owns 13,169,935 shares in the company, valued at $423,413,410.25. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by corporate insiders.
About Parsley Energy
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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