Alpine Partners VI LLC acquired a new position in shares of Parsley Energy Inc. (NYSE:PE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,107 shares of the company’s stock, valued at approximately $652,000.
A number of other hedge funds have also recently added to or reduced their stakes in PE. Thompson Davis & CO. Inc. increased its stake in shares of Parsley Energy by 93.8% in the second quarter. Thompson Davis & CO. Inc. now owns 3,875 shares of the company’s stock worth $105,000 after buying an additional 1,875 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Parsley Energy during the second quarter worth about $131,000. BlackRock Inc. increased its stake in shares of Parsley Energy by 134.5% in the first quarter. BlackRock Inc. now owns 6,650 shares of the company’s stock worth $151,000 after buying an additional 3,814 shares during the last quarter. Loeb Partners Corp bought a new stake in shares of Parsley Energy during the second quarter worth about $235,000. Finally, Comerica Bank bought a new stake in shares of Parsley Energy during the second quarter worth about $296,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) opened at 35.42 on Thursday. Parsley Energy Inc. has a 52 week low of $14.51 and a 52 week high of $35.61. The stock’s market capitalization is $6.06 billion. The stock’s 50 day moving average is $33.42 and its 200-day moving average is $27.85.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. The business had revenue of $106.30 million for the quarter, compared to analyst estimates of $92.04 million. Parsley Energy had a negative return on equity of 0.66% and a negative net margin of 18.26%. The firm’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) earnings per share. On average, analysts anticipate that Parsley Energy Inc. will post $0.10 earnings per share for the current fiscal year.
A number of research firms recently issued reports on PE. Deutsche Bank AG raised their price objective on shares of Parsley Energy from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. Wunderlich began coverage on shares of Parsley Energy in a report on Friday, June 17th. They issued a “buy” rating and a $32.00 price objective on the stock. Barclays PLC began coverage on shares of Parsley Energy in a report on Tuesday, June 21st. They issued an “overweight” rating and a $30.00 price objective on the stock. Zacks Investment Research raised shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Thursday, June 30th. Finally, Simmons began coverage on shares of Parsley Energy in a report on Friday, July 8th. They issued an “overweight” rating and a $31.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $30.93.
In related news, insider Mike Hinson sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $27.42, for a total transaction of $685,500.00. Following the completion of the transaction, the insider now directly owns 646,653 shares in the company, valued at approximately $17,731,225.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Gallagher sold 5,400 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $33.74, for a total value of $182,196.00. Following the transaction, the insider now owns 637,006 shares of the company’s stock, valued at $21,492,582.44. The disclosure for this sale can be found here. Corporate insiders own 24.17% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc is an independent oil and natural gas company. The Company is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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