Three Peaks Capital Management LLC cut its position in shares of Parsley Energy, Inc. (NYSE:PE) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,895 shares of the oil and natural gas company’s stock after selling 1,280 shares during the period. Three Peaks Capital Management LLC’s holdings in Parsley Energy were worth $1,607,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PE. Russell Investments Group Ltd. raised its position in Parsley Energy by 59.6% in the first quarter. Russell Investments Group Ltd. now owns 701,165 shares of the oil and natural gas company’s stock worth $22,796,000 after buying an additional 261,743 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Parsley Energy during the first quarter worth $133,000. Shell Asset Management Co. raised its position in Parsley Energy by 18.8% in the first quarter. Shell Asset Management Co. now owns 13,425 shares of the oil and natural gas company’s stock worth $436,000 after buying an additional 2,125 shares during the period. ProShare Advisors LLC raised its position in Parsley Energy by 52.2% in the first quarter. ProShare Advisors LLC now owns 19,869 shares of the oil and natural gas company’s stock worth $646,000 after buying an additional 6,814 shares during the period. Finally, Profund Advisors LLC raised its position in Parsley Energy by 27.0% in the first quarter. Profund Advisors LLC now owns 10,079 shares of the oil and natural gas company’s stock worth $328,000 after buying an additional 2,140 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Parsley Energy, Inc. (NYSE PE) opened at 24.79 on Friday. The company’s 50-day moving average is $27.25 and its 200-day moving average is $29.74. Parsley Energy, Inc. has a 12-month low of $24.25 and a 12-month high of $39.82. The stock has a market cap of $6.14 billion, a P/E ratio of 138.49 and a beta of -0.09.
Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.06. The company had revenue of $213.68 million for the quarter, compared to the consensus estimate of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. Parsley Energy’s revenue was up 99.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. On average, equities research analysts anticipate that Parsley Energy, Inc. will post $0.51 earnings per share for the current year.
Several analysts have recently commented on PE shares. FBR & Co reiterated a “buy” rating on shares of Parsley Energy in a report on Monday, May 15th. Scotiabank set a $43.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a report on Saturday, May 6th. UBS AG reiterated a “buy” rating and issued a $44.00 target price (up previously from $42.00) on shares of Parsley Energy in a report on Friday, May 5th. Credit Suisse Group reiterated an “outperform” rating and issued a $45.00 target price on shares of Parsley Energy in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.65.
In other Parsley Energy news, insider Colin Roberts sold 3,400 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $102,000.00. Following the transaction, the insider now owns 229,326 shares in the company, valued at approximately $6,879,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.51% of the stock is currently owned by corporate insiders.
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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