Cramer Rosenthal Mcglynn LLC bought a new position in shares of Parsley Energy Inc (NYSE:PE) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 574,665 shares of the oil and natural gas company’s stock, valued at approximately $16,918,000. Cramer Rosenthal Mcglynn LLC owned 0.18% of Parsley Energy at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PE. Viking Global Investors LP raised its stake in 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 acquiring an additional 10,245,991 shares during the period. Victory Capital Management Inc. raised its stake in 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 acquiring an additional 648,938 shares during the period. Van ECK Associates Corp raised its stake in 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 acquiring an additional 75,905 shares during the period. Point72 Asset Management L.P. raised its stake in 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 acquiring an additional 3,549,307 shares during the period. Finally, Third Point LLC raised its stake in 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 acquiring an additional 850,000 shares during the period. Institutional investors own 82.60% of the company’s stock.
In other Parsley Energy news, Director Ron Brokmeyer acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $25.66 per share, with a total value of $51,320.00. Following the completion of the acquisition, the director now owns 112,128 shares of the company’s stock, valued at $2,877,204.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan Sheffield acquired 189,500 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. 15.51% of the stock is currently owned by insiders.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, topping 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 company had revenue of $311.49 million during the quarter, compared to analyst estimates of $298.04 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Parsley Energy’s revenue was up 99.8% on a year-over-year basis. equities research analysts expect that Parsley Energy Inc will post 1.16 earnings per share for the current fiscal year.
PE has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 15th. Morgan Stanley boosted their price objective on Parsley Energy from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Barclays boosted their price objective on Parsley Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 20th. National Alliance Securities initiated coverage on Parsley Energy in a research note on Friday, February 16th. They issued a “hold” rating and a $25.00 price objective on the stock. Finally, Deutsche Bank lowered 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and a consensus target price of $36.13.
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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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