State Board of Administration of Florida Retirement System lifted its stake in Parsley Energy Inc (NYSE:PE) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,660 shares of the oil and natural gas company’s stock after purchasing an additional 9,152 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Parsley Energy worth $6,609,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PE. Parametric Portfolio Associates LLC grew its holdings in Parsley Energy by 30.1% during the first quarter. Parametric Portfolio Associates LLC now owns 544,354 shares of the oil and natural gas company’s stock worth $10,506,000 after purchasing an additional 125,987 shares during the period. Fisher Asset Management LLC boosted its position in Parsley Energy by 9.7% during the second quarter. Fisher Asset Management LLC now owns 935,051 shares of the oil and natural gas company’s stock valued at $17,775,000 after acquiring an additional 82,644 shares during the last quarter. Comerica Bank raised its holdings in shares of Parsley Energy by 6.8% in the 1st quarter. Comerica Bank now owns 11,311 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 720 shares during the last quarter. Oslo Asset Management AS grew its position in Parsley Energy by 10.6% in the 1st quarter. Oslo Asset Management AS now owns 1,661,384 shares of the oil and natural gas company’s stock worth $32,065,000 after purchasing an additional 159,000 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Parsley Energy by 25.4% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 42,400 shares of the oil and natural gas company’s stock worth $818,000 after purchasing an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.
Shares of PE traded up $0.54 during midday trading on Wednesday, hitting $17.19. The stock had a trading volume of 214,429 shares, compared to its average volume of 5,684,945. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 0.32 and a beta of 0.50. The company has a 50 day simple moving average of $16.40 and a two-hundred day simple moving average of $18.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50. Parsley Energy Inc has a twelve month low of $13.72 and a twelve month high of $31.05.
In other news, Director Jerry Windlinger acquired 1,985 shares of the stock in a transaction on Wednesday, June 5th. The stock was acquired at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the completion of the transaction, the director now directly owns 33,382 shares in the company, valued at $584,185. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 12.14% of the stock is currently owned by insiders.
Several research analysts recently commented on the stock. Cowen set a $24.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. ValuEngine raised shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a report on Monday. TD Securities boosted their price objective on shares of Parsley Energy from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of Parsley Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Finally, MKM Partners assumed coverage on shares of Parsley Energy in a research report on Tuesday. They issued a “buy” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.95.
About Parsley Energy
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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