Zimmer Partners LP lessened its stake in Parsley Energy Inc (NYSE:PE) by 29.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,621,852 shares of the oil and natural gas company’s stock after selling 1,975,000 shares during the period. Parsley Energy accounts for approximately 3.3% of Zimmer Partners LP’s investment portfolio, making the stock its 9th largest holding. Zimmer Partners LP owned about 1.47% of Parsley Energy worth $136,067,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of PE. The Manufacturers Life Insurance Company boosted its holdings in Parsley Energy by 13.0% in the second quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock worth $228,000 after acquiring an additional 945 shares in the last quarter. Amalgamated Bank boosted its holdings in Parsley Energy by 5.5% in the third quarter. Amalgamated Bank now owns 42,989 shares of the oil and natural gas company’s stock worth $1,132,000 after acquiring an additional 2,258 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Parsley Energy by 8.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 29,229 shares of the oil and natural gas company’s stock worth $861,000 after acquiring an additional 2,368 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Parsley Energy by 3.6% in the third quarter. Pictet Asset Management Ltd. now owns 77,300 shares of the oil and natural gas company’s stock worth $2,036,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Parsley Energy by 6.6% in the third quarter. Advisors Asset Management Inc. now owns 44,029 shares of the oil and natural gas company’s stock worth $1,160,000 after acquiring an additional 2,730 shares in the last quarter. Institutional investors own 82.60% of the company’s stock.
Several equities research analysts have weighed in on the company. Credit Suisse Group lowered their price target on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Scotiabank reissued a “buy” rating and issued a $38.00 price target on shares of Parsley Energy in a report on Wednesday, November 22nd. Williams Capital downgraded 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 report on Tuesday, January 30th. Northland Securities set a $36.00 price target on Parsley Energy and gave the stock a “buy” rating in a report on Monday, December 11th. Finally, Morgan Stanley downgraded Parsley Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 30th. 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. Parsley Energy has an average rating of “Buy” and a consensus target price of $36.13.
Parsley Energy Inc (NYSE:PE) opened at $26.64 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37. The firm has a market capitalization 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 12-month low of $21.12 and a 12-month high of $33.07.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. The company had revenue of $311.49 million during the quarter, compared to analysts’ expectations of $298.04 million. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. Parsley Energy’s quarterly revenue was up 99.8% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. equities analysts predict that Parsley Energy Inc will post 1.16 EPS for the current year.
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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