Essex Investment Management Co. LLC increased its stake in shares of Parsley Energy Inc. (NYSE:PE) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,413 shares of the company’s stock after buying an additional 3,280 shares during the period. Essex Investment Management Co. LLC’s holdings in Parsley Energy were worth $525,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PE. BlackRock Fund Advisors boosted its stake in shares of Parsley Energy by 3.4% in the first quarter. BlackRock Fund Advisors now owns 2,550,901 shares of the company’s stock valued at $57,650,000 after buying an additional 83,483 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of 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. Geode Capital Management LLC boosted its stake in shares of Parsley Energy by 4.9% in the first quarter. Geode Capital Management LLC now owns 676,265 shares of the company’s stock valued at $15,283,000 after buying an additional 31,867 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of Parsley Energy by 52.9% in the first quarter. BlackRock Group LTD now owns 94,497 shares of the company’s stock valued at $2,136,000 after buying an additional 32,712 shares in the last quarter. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Parsley Energy during the first quarter valued at about $3,169,000. 84.49% of the stock is owned by institutional investors and hedge funds.
Parsley Energy Inc. (NYSE:PE) traded down 0.48% during midday trading on Thursday, hitting $35.25. 2,142,604 shares of the stock traded hands. The company has a 50-day moving average price of $33.40 and a 200 day moving average price of $27.85. The stock’s market cap is $6.04 billion. Parsley Energy Inc. has a one year low of $14.51 and a one year high of $35.93.
Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.13) earnings per share (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 company earned $106.30 million during the quarter, compared to analyst estimates of $92.04 million. During the same quarter in the previous year, the company posted ($0.01) EPS. The company’s quarterly revenue was up 36.5% on a year-over-year basis. Equities research analysts anticipate that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
Several brokerages have recently issued reports on PE. Nomura restated a “buy” rating and set a $17.00 target price on shares of Parsley Energy in a research report on Monday, September 26th. FBR & Co began coverage on shares of Parsley Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $41.00 target price on the stock. Zacks Investment Research cut shares of Parsley Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 8th. Morgan Stanley upped their target price on shares of Parsley Energy to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, August 30th. Finally, Williams Capital began coverage on shares of Parsley Energy in a research report on Monday, August 29th. They set a “hold” rating and a $37.00 target price on the stock. Six research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $30.93.
In related news, insider Mike Hinson sold 25,000 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $27.42, for a total transaction of $685,500.00. Following the completion of the sale, the insider now owns 646,653 shares in the company, valued at approximately $17,731,225.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bryan Sheffield sold 1,100,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $32.15, for a total transaction of $35,365,000.00. Following the sale, the insider now owns 13,169,935 shares of the company’s stock, valued at approximately $423,413,410.25. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by 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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