TIAA CREF Investment Management LLC increased its position in shares of Parsley Energy Inc (NYSE:PE) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,885,217 shares of the oil and natural gas company’s stock after purchasing an additional 855,841 shares during the period. TIAA CREF Investment Management LLC owned approximately 3.14% of Parsley Energy worth $291,021,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PE. Viking Global Investors LP boosted its position 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 buying an additional 10,245,991 shares during the period. Point72 Asset Management L.P. boosted its position 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 buying an additional 3,549,307 shares during the period. Teachers Advisors LLC boosted its position in Parsley Energy by 34.9% in the 4th quarter. Teachers Advisors LLC now owns 6,101,167 shares of the oil and natural gas company’s stock valued at $179,618,000 after buying an additional 1,578,132 shares during the period. Tide Point Capital Management LP purchased a new stake in Parsley Energy in the 4th quarter valued at about $40,093,000. Finally, Schroder Investment Management Group purchased a new stake in Parsley Energy in the 3rd quarter valued at about $33,808,000. 82.60% of the stock is owned by hedge funds and other institutional investors.
Parsley Energy Inc (PE) opened at $26.82 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $8,480.31, a P/E ratio of 43.18, a P/E/G ratio of 1.28 and a beta of -0.39. Parsley Energy Inc has a 52 week low of $21.12 and a 52 week high of $33.07.
Several research firms have issued reports on PE. Bank of America boosted their price objective on shares of Parsley Energy from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Credit Suisse Group set a $38.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital cut shares of Parsley Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $38.00 to $34.00 in a research report on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 price target on shares of Parsley Energy in a research report on Friday, February 2nd. Finally, Morgan Stanley cut shares of Parsley Energy from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $36.13.
In other news, Director Ron Brokmeyer acquired 2,000 shares of Parsley Energy stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $25.66 per share, for a total transaction of $51,320.00. Following the purchase, the director now directly owns 112,128 shares in the company, valued at approximately $2,877,204.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bryan Sheffield acquired 189,500 shares of Parsley Energy stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the purchase, the insider now owns 11,533,063 shares in the company, valued at $303,780,879.42. The disclosure for this purchase can be found here. Insiders own 15.51% of the company’s stock.
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Parsley Energy 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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