Deprince Race & Zollo Inc. raised its position in Parsley Energy Inc. (NYSE:PE) by 87.5% during the second quarter, Holdings Channel reports. The fund owned 31,879 shares of the company’s stock after buying an additional 14,879 shares during the period. Deprince Race & Zollo Inc.’s holdings in Parsley Energy were worth $863,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of PE. BlackRock Fund Advisors boosted its position 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 worth $57,650,000 after buying an additional 83,483 shares during the last quarter. Meeder Asset Management Inc. raised 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 worth $259,000 after buying an additional 4,419 shares during the period. Geode Capital Management LLC raised 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 worth $15,283,000 after buying an additional 31,867 shares during the period. BlackRock Group LTD raised 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 worth $2,136,000 after buying an additional 32,712 shares during the period. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Parsley Energy during the first quarter worth about $3,169,000. Institutional investors own 84.49% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) traded up 0.28% during mid-day trading on Friday, reaching $35.35. 2,383,439 shares of the company traded hands. The firm’s market capitalization is $6.05 billion. Parsley Energy Inc. has a 52 week low of $14.51 and a 52 week high of $35.93. The firm has a 50-day moving average price of $33.45 and a 200 day moving average price of $27.95.
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 Thomson Reuters’ consensus estimate 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 business had revenue of $106.30 million for the quarter, compared to the consensus estimate of $92.04 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm’s revenue was up 36.5% on a year-over-year basis. On average, analysts anticipate that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
A number of equities research analysts have issued reports on the stock. Nomura reissued a “buy” rating and issued a $17.00 price target on shares of Parsley Energy in a report on Monday, September 26th. FBR & Co assumed coverage on shares of Parsley Energy in a report on Tuesday, September 13th. They issued an “outperform” rating and a $41.00 price target on the stock. Zacks Investment Research lowered shares of Parsley Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 8th. Morgan Stanley raised their price target on shares of Parsley Energy to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, August 30th. Finally, Williams Capital assumed coverage on shares of Parsley Energy in a report on Monday, August 29th. They issued a “hold” rating and a $37.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Parsley Energy has a consensus rating of “Buy” and an average target price of $30.93.
In other news, insider Mike Hinson sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $27.42, for a total value of $685,500.00. Following the sale, the insider now directly owns 646,653 shares in the company, valued at approximately $17,731,225.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Henry Smith sold 6,250 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $32.99, for a total transaction of $206,187.50. Following the completion of the sale, the director now owns 30,861 shares in the company, valued at $1,018,104.39. The disclosure for this sale can be found here. Company insiders own 24.17% of the company’s stock.
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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