Stephens Investment Management Group LLC decreased its holdings in Parsley Energy Inc (NYSE:PE) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,129,961 shares of the oil and natural gas company’s stock after selling 27,669 shares during the period. Stephens Investment Management Group LLC owned about 0.27% of Parsley Energy worth $12,068,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Parsley Energy by 10.8% in the first quarter. BlackRock Inc. now owns 13,761,435 shares of the oil and natural gas company’s stock worth $78,851,000 after acquiring an additional 1,345,890 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Parsley Energy by 10.4% in the second quarter. Victory Capital Management Inc. now owns 10,056,048 shares of the oil and natural gas company’s stock worth $107,399,000 after acquiring an additional 945,460 shares during the period. State Street Corp lifted its position in Parsley Energy by 28.8% during the first quarter. State Street Corp now owns 9,075,120 shares of the oil and natural gas company’s stock valued at $52,000,000 after purchasing an additional 2,027,914 shares in the last quarter. Invesco Ltd. lifted its position in Parsley Energy by 5.4% during the first quarter. Invesco Ltd. now owns 7,491,389 shares of the oil and natural gas company’s stock valued at $42,926,000 after purchasing an additional 382,077 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Parsley Energy by 84.1% during the second quarter. Bank of New York Mellon Corp now owns 6,007,293 shares of the oil and natural gas company’s stock valued at $64,160,000 after purchasing an additional 2,744,387 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.
Shares of PE stock traded up $0.61 during trading hours on Wednesday, hitting $10.18. The stock had a trading volume of 336,707 shares, compared to its average volume of 9,633,600. Parsley Energy Inc has a one year low of $3.92 and a one year high of $20.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s 50-day moving average price is $10.98 and its two-hundred day moving average price is $9.68. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -1.03, a PEG ratio of 0.41 and a beta of 2.25.
Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, August 5th. The oil and natural gas company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.17. Parsley Energy had a positive return on equity of 5.13% and a negative net margin of 200.23%. The firm had revenue of $220.21 million for the quarter, compared to analysts’ expectations of $327.18 million. As a group, equities research analysts predict that Parsley Energy Inc will post 0.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.20 annualized dividend and a dividend yield of 1.96%. Parsley Energy’s dividend payout ratio (DPR) is 17.86%.
In other Parsley Energy news, insider Bryan Sheffield sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $11.46, for a total transaction of $3,438,000.00. Following the sale, the insider now directly owns 9,310,686 shares of the company’s stock, valued at $106,700,461.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Colin Roberts sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $11.14, for a total value of $334,200.00. Following the sale, the insider now directly owns 279,487 shares in the company, valued at $3,113,485.18. The disclosure for this sale can be found here. Insiders sold 630,000 shares of company stock worth $7,408,200 over the last ninety days. Insiders own 19.42% of the company’s stock.
PE has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Parsley Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, June 25th. Northland Securities initiated coverage on Parsley Energy in a research report on Thursday, August 6th. They set a “buy” rating and a $14.00 target price on the stock. Cowen lifted their target price on Parsley Energy from $15.00 to $18.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. TD Securities lifted their target price on Parsley Energy from $14.50 to $15.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus lowered their target price on Parsley Energy from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $15.35.
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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