Parsley Energy Inc. (PE) Stake Raised by Ashburton Jersey Ltd
Ashburton Jersey Ltd boosted its position in Parsley Energy Inc. (NYSE:PE) by 14.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 66,140 shares of the company’s stock after buying an additional 8,520 shares during the period. Ashburton Jersey Ltd’s holdings in Parsley Energy were worth $1,790,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Redwood Investments LLC bought a new stake in Parsley Energy during the second quarter worth $17,455,000. Nuveen Asset Management LLC raised its stake in Parsley Energy by 200.0% in the first quarter. Nuveen Asset Management LLC now owns 699,725 shares of the company’s stock worth $15,813,000 after buying an additional 466,503 shares in the last quarter. Renaissance Technologies LLC raised its stake in Parsley Energy by 147.7% in the first quarter. Renaissance Technologies LLC now owns 722,600 shares of the company’s stock worth $16,331,000 after buying an additional 430,900 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised 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 in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in Parsley Energy during the first quarter worth $3,169,000. Institutional investors own 84.51% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) traded down 0.33% during midday trading on Tuesday, reaching $36.14. 2,051,693 shares of the company were exchanged. The stock’s market capitalization is $6.19 billion. The company’s 50-day moving average price is $33.93 and its 200 day moving average price is $28.65. Parsley Energy Inc. has a 52-week low of $14.51 and a 52-week high of $37.04.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The company earned $106.30 million during 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 company posted ($0.01) EPS. On average, equities analysts predict that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Thursday, June 30th. Barclays PLC upped their price objective on Parsley Energy from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. Imperial Capital upped their price objective on Parsley Energy from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Piper Jaffray Cos. assumed coverage on Parsley Energy in a research report on Friday, July 8th. They set an “overweight” rating on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $34.00 price objective (up previously from $30.00) on shares of Parsley Energy in a research report on Monday, July 18th. Six investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.79.
In other Parsley Energy news, Director David Henry Smith sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $32.99, for a total value of $206,187.50. Following the completion of the sale, the director now directly owns 30,861 shares of the company’s stock, valued at $1,018,104.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Colin Roberts sold 25,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $7,988,342.90. 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.
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