Nationwide Fund Advisors boosted its stake in Parsley Energy Inc. (NYSE:PE) by 157.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,873 shares of the company’s stock after buying an additional 136,441 shares during the period. Nationwide Fund Advisors owned approximately 0.14% of Parsley Energy worth $6,031,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PE. TIAA CREF Investment Management LLC boosted its stake in Parsley Energy by 81.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,642,321 shares of the company’s stock worth $82,316,000 after buying an additional 1,637,937 shares in the last quarter. Glenmede Trust Co. NA purchased a new stake in Parsley Energy during the second quarter worth approximately $33,118,000. Norges Bank purchased a new stake in Parsley Energy during the fourth quarter worth approximately $13,494,000. Redwood Investments LLC purchased a new stake in Parsley Energy during the second quarter worth approximately $17,455,000. Finally, Wexford Capital LP purchased a new stake in Parsley Energy during the first quarter worth approximately $13,176,000. 84.49% of the stock is currently owned by hedge funds and other institutional investors.
Parsley Energy Inc. (NYSE:PE) traded up 1.58% during midday trading on Wednesday, hitting $31.56. 887,591 shares of the stock were exchanged. The firm’s market capitalization is $5.40 billion. Parsley Energy Inc. has a 1-year low of $14.51 and a 1-year high of $35.00. The firm’s 50-day moving average price is $33.36 and its 200 day moving average price is $27.35.
Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.03) by $0.10. The business had revenue of $106.30 million for the quarter, compared to the consensus estimate of $92.04 million. Parsley Energy had a negative return on equity of 0.66% and a negative net margin of 18.26%. The company’s revenue was up 36.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) earnings per share. Analysts expect that Parsley Energy Inc. will post $0.10 earnings per share for the current fiscal year.
A number of analysts recently commented on the stock. Wells Fargo & Co. restated a “hold” rating on shares of Parsley Energy in a research report on Saturday, June 4th. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, June 30th. Barclays PLC upped their price objective on shares of Parsley Energy from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Wunderlich assumed coverage on shares of Parsley Energy in a research report on Friday, June 17th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Imperial Capital upped their price objective on shares of Parsley Energy from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $30.57.
In other Parsley Energy news, insider Mike Hinson sold 25,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $33.65, for a total value of $841,250.00. Following the completion of the sale, the insider now directly owns 546,653 shares of the company’s stock, valued at approximately $18,394,873.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bryan Sheffield sold 1,100,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $32.15, for a total transaction of $35,365,000.00. Following the completion of the sale, the insider now directly owns 13,169,935 shares of the company’s stock, valued at $423,413,410.25. The disclosure for this sale can be found here. Insiders own 24.17% of the company’s stock.
About Parsley Energy
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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