Federated Investors Inc. PA increased its stake in shares of Parsley Energy Inc (NYSE:PE) by 18.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 88,500 shares of the oil and natural gas company’s stock after acquiring an additional 14,000 shares during the period. Federated Investors Inc. PA’s holdings in Parsley Energy were worth $2,680,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PE. LS Investment Advisors LLC raised its position in Parsley Energy by 67.0% in the 1st quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock valued at $118,000 after purchasing an additional 1,639 shares during the last quarter. MHI Funds LLC bought a new position in Parsley Energy in the 2nd quarter valued at $163,000. Cerebellum GP LLC raised its position in Parsley Energy by 129.3% in the 2nd quarter. Cerebellum GP LLC now owns 6,099 shares of the oil and natural gas company’s stock valued at $185,000 after purchasing an additional 3,439 shares during the last quarter. American International Group Inc. raised its position in Parsley Energy by 38.1% in the 1st quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock valued at $210,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought a new position in Parsley Energy in the 2nd quarter valued at $212,000. Institutional investors and hedge funds own 84.59% of the company’s stock.
NYSE PE opened at $28.26 on Friday. The firm has a market capitalization of $8.96 billion, a PE ratio of 40.96, a PEG ratio of 0.65 and a beta of -0.55. Parsley Energy Inc has a 52 week low of $21.12 and a 52 week high of $33.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.36.
In related news, Director Hemang Desai acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was acquired at an average cost of $27.32 per share, with a total value of $27,320.00. Following the completion of the purchase, the director now directly owns 31,886 shares in the company, valued at $871,125.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Colin Roberts sold 10,000 shares of Parsley Energy stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $30.21, for a total value of $302,100.00. Following the sale, the insider now directly owns 224,600 shares of the company’s stock, valued at $6,785,166. The disclosure for this sale can be found here. Insiders sold a total of 2,773,328 shares of company stock valued at $78,620,280 over the last three months. Insiders own 13.17% of the company’s stock.
Several equities analysts have issued reports on PE shares. TD Securities started coverage on Parsley Energy in a research report on Thursday, July 5th. They issued a “buy” rating and a $37.00 price objective for the company. KLR Group reiterated a “buy” rating and issued a $43.00 price objective on shares of Parsley Energy in a research report on Monday, August 20th. Morgan Stanley lifted their price objective on Parsley Energy from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 24th. Piper Jaffray Companies set a $46.00 price objective on Parsley Energy and gave the company a “buy” rating in a research report on Wednesday, June 13th. Finally, Stifel Nicolaus set a $58.00 price objective on Parsley Energy and gave the company a “buy” rating in a research report on Wednesday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Parsley Energy has an average rating of “Buy” and a consensus price target of $38.73.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
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