Mitchell Group Inc. trimmed its position in Parsley Energy Inc (NYSE:PE) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,200 shares of the oil and natural gas company’s stock after selling 50,360 shares during the quarter. Parsley Energy makes up approximately 2.2% of Mitchell Group Inc.’s portfolio, making the stock its 25th biggest holding. Mitchell Group Inc.’s holdings in Parsley Energy were worth $12,901,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its position in shares of Parsley Energy by 6.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock worth $251,000 after purchasing an additional 565 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Parsley Energy by 13.0% in the second quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock worth $228,000 after purchasing an additional 945 shares during the last quarter. Amalgamated Bank increased its position in shares of Parsley Energy by 5.5% in the third quarter. Amalgamated Bank now owns 42,989 shares of the oil and natural gas company’s stock worth $1,132,000 after purchasing an additional 2,258 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Parsley Energy by 8.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 29,229 shares of the oil and natural gas company’s stock worth $861,000 after purchasing an additional 2,368 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its position in shares of Parsley Energy by 0.4% in the third quarter. State of Wisconsin Investment Board now owns 625,041 shares of the oil and natural gas company’s stock worth $16,464,000 after purchasing an additional 2,673 shares during the last quarter. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
Parsley Energy Inc (PE) opened at $25.96 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy Inc has a fifty-two week low of $21.12 and a fifty-two week high of $33.07. The stock has a market cap of $8,240.08, a P/E ratio of 63.32, a PEG ratio of 1.17 and a beta of -0.32.
In other news, insider Bryan Sheffield bought 189,500 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of $26.34 per share, for a total transaction of $4,991,430.00. Following the completion of the acquisition, the insider now owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 15.51% of the stock is currently owned by company insiders.
PE has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on shares of Parsley Energy in a research report on Monday, December 11th. They issued an “outperform” rating and a $32.00 price objective on the stock. Northland Securities set a $36.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, December 11th. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Piper Jaffray Companies reiterated a “buy” rating and set a $41.00 price target on shares of Parsley Energy in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.13.
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Parsley Energy 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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