BP Capital Fund Advisors LLC grew its holdings in shares of Parsley Energy Inc (NYSE:PE) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,929 shares of the oil and natural gas company’s stock after acquiring an additional 13,241 shares during the quarter. Parsley Energy accounts for approximately 2.0% of BP Capital Fund Advisors LLC’s investment portfolio, making the stock its 21st largest position. BP Capital Fund Advisors LLC’s holdings in Parsley Energy were worth $5,533,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PE. Assetmark Inc. increased its stake in shares of Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock valued at $105,000 after buying an additional 2,864 shares during the period. Cerebellum GP LLC acquired a new position in shares of Parsley Energy in the fourth quarter valued at approximately $128,000. American International Group Inc. acquired a new position in shares of Parsley Energy in the fourth quarter valued at approximately $155,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Parsley Energy in the third quarter valued at approximately $196,000. Finally, Trexquant Investment LP acquired a new position in shares of Parsley Energy in the third quarter valued at approximately $206,000. 80.50% of the stock is owned by hedge funds and other institutional investors.
PE has been the subject of several recent research reports. Zacks Investment Research raised Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Deutsche Bank lowered their price objective on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. ValuEngine downgraded Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. lowered their price objective on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, November 15th. Finally, Northland Securities set a $36.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and an average target price of $36.13.
Shares of Parsley Energy Inc (NYSE PE) opened at $25.28 on Thursday. Parsley Energy Inc has a twelve month low of $21.12 and a twelve month high of $33.07. The company has a market capitalization of $7,950.00, a P/E ratio of 63.20, a P/E/G ratio of 1.17 and a beta of -0.32. 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 (NYSE:PE) last announced its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. Parsley Energy had a return on equity of 3.16% and a net margin of 11.04%. The business had revenue of $311.49 million for the quarter, compared to analysts’ expectations of $298.04 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue was up 99.8% on a year-over-year basis. equities analysts predict that Parsley Energy Inc will post 1.24 EPS for the current fiscal year.
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About Parsley Energy
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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