Oakbrook Investments LLC Purchases Shares of 15,480 Parsley Energy Inc (PE)

Oakbrook Investments LLC purchased a new position in shares of Parsley Energy Inc (NYSE:PE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,480 shares of the oil and natural gas company’s stock, valued at approximately $453,000.

Several other large investors have also recently made changes to their positions in PE. Envestnet Asset Management Inc. raised its position in shares of Parsley Energy by 487.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock worth $124,000 after purchasing an additional 3,376 shares during the last quarter. MHI Funds LLC acquired a new position in shares of Parsley Energy during the 2nd quarter worth approximately $163,000. Cerebellum GP LLC raised its position in shares of Parsley Energy by 129.3% during the 2nd quarter. Cerebellum GP LLC now owns 6,099 shares of the oil and natural gas company’s stock worth $185,000 after purchasing an additional 3,439 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Parsley Energy during the 2nd quarter worth approximately $212,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Parsley Energy during the 2nd quarter worth approximately $224,000. 84.11% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Bryan Sheffield sold 2,500,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $28.15, for a total transaction of $70,375,000.00. Following the completion of the sale, the insider now directly owns 9,033,063 shares of the company’s stock, valued at approximately $254,280,723.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hemang Desai acquired 1,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were bought 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 disclosure for this purchase can be found here. Insiders have sold a total of 2,763,328 shares of company stock valued at $78,318,180 over the last three months. Corporate insiders own 13.17% of the company’s stock.



Several brokerages recently issued reports on PE. Wells Fargo & Co began coverage on Parsley Energy in a research report on Wednesday. They set an “outperform” rating and a $47.00 price objective for the company. Piper Jaffray Companies set a $46.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $57.00 price objective on shares of Parsley Energy in a research report on Wednesday. Zacks Investment Research upgraded Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, October 22nd. Finally, Wolfe Research downgraded Parsley Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 17th. Five equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $38.62.

Shares of PE opened at $24.43 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 0.58 and a beta of -0.55. Parsley Energy Inc has a fifty-two week low of $21.12 and a fifty-two week high of $33.43.

Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The business had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%. On average, analysts forecast that Parsley Energy Inc will post 1.59 EPS for the current year.

Parsley Energy 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.

Further Reading: What is a Fiduciary?

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Institutional Ownership by Quarter for Parsley Energy (NYSE:PE)

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