Luminus Management LLC raised its position in Parsley Energy Inc (NYSE:PE) by 113.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 900,000 shares of the oil and natural gas company’s stock after buying an additional 478,800 shares during the period. Luminus Management LLC owned about 0.29% of Parsley Energy worth $26,496,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PE. Viking Global Investors LP lifted its stake in shares of Parsley Energy by 129.7% in the 4th quarter. Viking Global Investors LP now owns 18,144,801 shares of the oil and natural gas company’s stock valued at $534,183,000 after purchasing an additional 10,245,991 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Parsley Energy by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 8,457,237 shares of the oil and natural gas company’s stock valued at $248,980,000 after purchasing an additional 648,938 shares during the period. Van ECK Associates Corp lifted its stake in shares of Parsley Energy by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,891,338 shares of the oil and natural gas company’s stock valued at $155,178,000 after purchasing an additional 75,905 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Parsley Energy by 164.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,709,178 shares of the oil and natural gas company’s stock valued at $150,380,000 after purchasing an additional 3,549,307 shares during the period. Finally, Third Point LLC lifted its stake in shares of Parsley Energy by 18.9% in the 3rd quarter. Third Point LLC now owns 5,350,000 shares of the oil and natural gas company’s stock valued at $140,919,000 after purchasing an additional 850,000 shares during the period. Hedge funds and other institutional investors own 82.60% of the company’s stock.
A number of research analysts have recently weighed in on the company. Bank of America increased their price target on Parsley Energy from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group began coverage on Parsley Energy in a research note on Wednesday, March 7th. They set a “buy” rating and a $35.00 price objective on the stock. Deutsche Bank dropped their price objective on Parsley Energy from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Imperial Capital raised their price objective on Parsley Energy from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Williams Capital set a $34.00 price objective on Parsley Energy and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Parsley Energy presently has an average rating of “Buy” and a consensus target price of $35.83.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The firm had revenue of $311.49 million for the quarter, compared to the consensus estimate of $298.04 million. During the same quarter last year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 99.8% on a year-over-year basis. equities research analysts forecast that Parsley Energy Inc will post 1.23 earnings per share for the current fiscal year.
In related news, Director Ron Brokmeyer acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $25.66 per share, for a total transaction of $51,320.00. Following the acquisition, the director now directly owns 112,128 shares of the company’s stock, valued at $2,877,204.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan Sheffield acquired 189,500 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the acquisition, the insider now directly owns 11,533,063 shares in the company, valued at $303,780,879.42. The disclosure for this purchase can be found here. Company insiders own 15.51% of the company’s stock.
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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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