Credit Agricole S A acquired a new stake in shares of Parsley Energy Inc (NYSE:PE) during the fourth quarter, Holdings Channel reports. The fund acquired 14,917 shares of the company’s stock, valued at approximately $526,000.
Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Parsley Energy by 58.0% in the second quarter. Macquarie Group Ltd. now owns 523,178 shares of the company’s stock valued at $14,157,000 after buying an additional 192,035 shares during the period. BlackRock Fund Advisors boosted its position in shares of Parsley Energy by 18.0% in the third quarter. BlackRock Fund Advisors now owns 1,897,331 shares of the company’s stock valued at $63,580,000 after buying an additional 289,900 shares during the period. Encompass Capital Advisors LLC bought a new position in shares of Parsley Energy during the third quarter valued at $32,935,000. Emerald Acquisition Ltd. boosted its position in shares of Parsley Energy by 53.4% in the third quarter. Emerald Acquisition Ltd. now owns 486,571 shares of the company’s stock valued at $16,304,000 after buying an additional 169,469 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Parsley Energy by 825.2% in the third quarter. JPMorgan Chase & Co. now owns 273,650 shares of the company’s stock valued at $9,171,000 after buying an additional 244,074 shares during the period. Institutional investors and hedge funds own 77.92% of the company’s stock.
Shares of Parsley Energy Inc (NYSE:PE) opened at 31.61 on Tuesday. The stock’s market cap is $7.79 billion. The company has a 50-day moving average price of $32.03 and a 200 day moving average price of $34.29. Parsley Energy Inc has a one year low of $21.01 and a one year high of $39.82.
Parsley Energy (NYSE:PE) last released its earnings results on Thursday, February 23rd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01. Parsley Energy had a positive return on equity of 0.24% and a negative net margin of 15.86%. The company earned $155.99 million during the quarter, compared to analysts’ expectations of $158.21 million. During the same period in the prior year, the company posted $0.03 earnings per share. The company’s revenue was up 126.9% on a year-over-year basis. Equities research analysts expect that Parsley Energy Inc will post $0.60 earnings per share for the current year.
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PE has been the topic of several recent analyst reports. Canaccord Genuity restated a “buy” rating and set a $50.00 price objective (up from $40.00) on shares of Parsley Energy in a research note on Saturday, January 14th. Barclays PLC restated an “overweight” rating and set a $41.00 price objective (down from $48.00) on shares of Parsley Energy in a research note on Thursday, February 16th. FBR & Co restated a “buy” rating and set a $46.00 price objective on shares of Parsley Energy in a research note on Thursday, January 26th. Drexel Hamilton restated a “buy” rating and set a $44.00 price objective on shares of Parsley Energy in a research note on Wednesday, December 21st. Finally, Royal Bank of Canada raised their price objective on Parsley Energy from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, January 17th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.64.
In related news, Director Jerry Windlinger bought 3,000 shares of the business’s stock in a transaction dated Tuesday, February 28th. The shares were purchased at an average cost of $30.35 per share, with a total value of $91,050.00. Following the completion of the purchase, the director now owns 5,667 shares in the company, valued at approximately $171,993.45. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew Gallagher bought 32,985 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was bought at an average cost of $30.20 per share, for a total transaction of $996,147.00. Following the completion of the purchase, the insider now owns 660,508 shares of the company’s stock, valued at approximately $19,947,341.60. The disclosure for this purchase can be found here. Over the last three months, insiders bought 39,485 shares of company stock worth $1,195,487. Insiders own 24.17% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses 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 includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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