UBS Asset Management Americas Inc. increased its stake in shares of Parsley Energy Inc. (NYSE:PE) by 62.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,883 shares of the company’s stock after buying an additional 42,910 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of Parsley Energy worth $3,028,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Nationwide Fund Advisors increased its stake in shares of Parsley Energy by 157.9% in the second quarter. Nationwide Fund Advisors now owns 222,873 shares of the company’s stock valued at $6,031,000 after buying an additional 136,441 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Parsley Energy by 87.9% in the second quarter. JPMorgan Chase & Co. now owns 29,576 shares of the company’s stock valued at $800,000 after buying an additional 13,833 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Parsley Energy during the second quarter valued at approximately $2,950,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Parsley Energy during the second quarter valued at approximately $1,151,000. Finally, Gerstein Fisher bought a new stake in shares of Parsley Energy during the second quarter valued at approximately $1,193,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
Shares of Parsley Energy Inc. (NYSE:PE) traded up 3.483% during midday trading on Wednesday, hitting $35.205. The stock had a trading volume of 1,472,875 shares. The stock has a 50 day moving average price of $33.37 and a 200-day moving average price of $27.79. The stock’s market capitalization is $6.03 billion. Parsley Energy Inc. has a 52 week low of $14.51 and a 52 week high of $35.35.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.10. The firm earned $106.30 million during the quarter, compared to the consensus estimate of $92.04 million. Parsley Energy had a negative net margin of 18.26% and a negative return on equity of 0.66%. The firm’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Equities research analysts anticipate that Parsley Energy Inc. will post $0.10 earnings per share for the current year.
PE has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Parsley Energy to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, August 30th. Goldman Sachs Group Inc. lifted their price objective on Parsley Energy from $25.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Zacks Investment Research upgraded Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, August 3rd. JPMorgan Chase & Co. lifted their price objective on Parsley Energy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. Finally, Williams Capital initiated coverage on Parsley Energy in a report on Monday, August 29th. They set a “hold” rating and a $37.00 price objective on the stock. Six research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $30.93.
In related news, insider Bryan Sheffield sold 1,100,000 shares of Parsley Energy 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 transaction, the insider now owns 13,169,935 shares in the company, valued at $423,413,410.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mike Hinson sold 25,000 shares of Parsley Energy stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $33.65, for a total value of $841,250.00. Following the transaction, the insider now owns 546,653 shares of the company’s stock, valued at approximately $18,394,873.45. The disclosure for this sale can be found here. 24.17% of the stock is owned by insiders.
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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