California Public Employees Retirement System boosted its position in shares of Parsley Energy Inc. (NYSE:PE) by 79.6% during the second quarter, Holdings Channel reports. The institutional investor owned 35,200 shares of the company’s stock after buying an additional 15,600 shares during the period. California Public Employees Retirement System’s holdings in Parsley Energy were worth $952,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PE. Utah Retirement Systems bought a new position in shares of Parsley Energy during the second quarter valued at approximately $744,000. Emerald Acquisition Ltd. bought a new position in shares of Parsley Energy during the second quarter valued at approximately $8,581,000. Mutual of America Capital Management LLC bought a new position in shares of Parsley Energy during the second quarter valued at approximately $1,115,000. Swiss National Bank raised its position in shares of Parsley Energy by 28.9% in the second quarter. Swiss National Bank now owns 232,003 shares of the company’s stock valued at $6,278,000 after buying an additional 52,003 shares during the period. Finally, Quantitative Investment Management LLC bought a new position in shares of Parsley Energy during the second quarter valued at approximately $1,664,000. 84.51% of the stock is owned by institutional investors and hedge funds.
Parsley Energy Inc. (NYSE:PE) traded up 2.32% during mid-day trading on Wednesday, hitting $36.98. 642,897 shares of the company were exchanged. Parsley Energy Inc. has a 12-month low of $14.51 and a 12-month high of $37.04. The company’s market cap is $6.33 billion. The stock’s 50 day moving average is $34.00 and its 200-day moving average is $28.75.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data 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. The company earned $106.30 million during the quarter, compared to analyst estimates of $92.04 million. Parsley Energy had a negative return on equity of 0.66% and a negative net margin of 18.26%. The company’s revenue was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) EPS. Equities research analysts predict that Parsley Energy Inc. will post $0.10 EPS for the current year.
Several equities analysts recently commented on the stock. Macquarie lowered shares of Parsley Energy from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $36.00 to $38.00 in a research report on Wednesday, October 12th. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, October 12th. Nomura reaffirmed a “buy” rating and set a $17.00 price target on shares of Parsley Energy in a research report on Monday, September 26th. FBR & Co assumed coverage on shares of Parsley Energy in a research report on Tuesday, September 13th. They set an “outperform” rating and a $41.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Parsley Energy to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 30th. Six 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. The company has a consensus rating of “Buy” and an average target price of $31.79.
In other Parsley Energy news, insider Bryan Sheffield sold 1,100,000 shares of Parsley Energy 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 sale, the insider now owns 13,169,935 shares in the company, valued at $423,413,410.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Gallagher sold 5,400 shares of Parsley Energy stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $33.74, for a total transaction of $182,196.00. Following the sale, the insider now owns 637,006 shares in the company, valued at approximately $21,492,582.44. The disclosure for this sale can be found here. 24.17% of the stock is currently owned by 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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