Oppenheimer Asset Management Inc. boosted its holdings in shares of Parsley Energy Inc (NYSE:PE) by 40.0% in the 3rd quarter, Holdings Channel reports. The fund owned 50,894 shares of the oil and natural gas company’s stock after acquiring an additional 14,545 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Parsley Energy were worth $855,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in PE. River & Mercantile Asset Management LLP acquired a new stake in shares of Parsley Energy in the 2nd quarter worth $29,000. Quadrant Capital Group LLC grew its stake in Parsley Energy by 214.8% during the third quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 1,484 shares during the period. First Quadrant L P CA purchased a new stake in Parsley Energy during the third quarter worth approximately $42,000. Quantamental Technologies LLC purchased a new stake in Parsley Energy during the second quarter worth approximately $53,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Parsley Energy during the second quarter worth $76,000. 83.06% of the stock is owned by institutional investors.
Several research firms recently issued reports on PE. Mizuho raised shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, September 16th. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Morgan Stanley decreased their target price on shares of Parsley Energy from $22.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, October 4th. Northland Securities reissued a “buy” rating and issued a $23.00 price target on shares of Parsley Energy in a report on Wednesday. Finally, Bank of America upped their price objective on shares of Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $27.23.
Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). Parsley Energy had a net margin of 14.03% and a return on equity of 5.00%. The business had revenue of $510.15 million during the quarter, compared to analyst estimates of $503.05 million. During the same quarter last year, the business posted $0.41 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that Parsley Energy Inc will post 1.28 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, December 10th will be paid a $0.03 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.70%. Parsley Energy’s dividend payout ratio (DPR) is presently 8.51%.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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