BlackRock Inc. boosted its position in shares of Parsley Energy, Inc. (NYSE:PE) by 6,471.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,215,157 shares of the oil and natural gas company’s stock after buying an additional 11,044,492 shares during the period. BlackRock Inc. owned 4.55% of Parsley Energy worth $364,606,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PE. Hudson Bay Capital Management LP bought a new stake in Parsley Energy during the fourth quarter worth $881,000. UBS Asset Management Americas Inc. increased its stake in Parsley Energy by 132.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 292,078 shares of the oil and natural gas company’s stock worth $10,291,000 after buying an additional 166,206 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Parsley Energy during the fourth quarter worth $320,000. Norges Bank bought a new stake in Parsley Energy during the fourth quarter worth $29,975,000. Finally, Numeric Investors LLC bought a new stake in Parsley Energy during the fourth quarter worth $261,000. Institutional investors own 91.60% of the company’s stock.
Shares of Parsley Energy, Inc. (PE) traded down 0.44% during midday trading on Friday, hitting $29.47. 5,437,349 shares of the company were exchanged. Parsley Energy, Inc. has a one year low of $25.17 and a one year high of $39.82. The firm’s market cap is $7.26 billion. The company’s 50 day moving average price is $27.74 and its 200 day moving average price is $30.83.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $181.23 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The business’s revenue was up 222.5% compared to the same quarter last year. Equities analysts expect that Parsley Energy, Inc. will post $0.58 EPS for the current year.
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A number of analysts have recently weighed in on PE shares. Williams Capital raised shares of Parsley Energy from a “hold” rating to a “buy” rating and decreased their price target for the stock from $39.00 to $37.00 in a research report on Monday, June 12th. Barclays PLC reissued an “overweight” rating and set a $37.00 price target (down previously from $41.00) on shares of Parsley Energy in a research report on Saturday, April 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Parsley Energy in a report on Saturday, April 22nd. FBR & Co reaffirmed a “buy” rating on shares of Parsley Energy in a report on Friday, May 5th. Finally, BMO Capital Markets set a $40.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $40.37.
In other news, insider Bryan Sheffield sold 1,687,500 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $31.42, for a total transaction of $53,021,250.00. Following the sale, the insider now owns 12,059,224 shares in the company, valued at $378,900,818.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Colin Roberts sold 3,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $29.56, for a total value of $88,680.00. Following the sale, the insider now owns 232,726 shares in the company, valued at approximately $6,879,380.56. The disclosure for this sale can be found here. Insiders have sold 1,723,900 shares of company stock worth $54,188,730 in the last 90 days. Company insiders own 15.51% of the company’s stock.
Parsley Energy Company Profile
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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