Oslo Asset Management AS lifted its stake in Parsley Energy Inc (NYSE:PE) by 25.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 876,200 shares of the oil and natural gas company’s stock after buying an additional 176,500 shares during the quarter. Parsley Energy comprises 6.8% of Oslo Asset Management AS’s portfolio, making the stock its 10th biggest holding. Oslo Asset Management AS owned 0.28% of Parsley Energy worth $25,629,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Miller Howard Investments Inc. NY raised its stake in Parsley Energy by 36.7% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 136,195 shares of the oil and natural gas company’s stock valued at $3,984,000 after purchasing an additional 36,531 shares during the period. Oppenheimer & Co. Inc. raised its stake in Parsley Energy by 27.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,477 shares of the oil and natural gas company’s stock valued at $394,000 after purchasing an additional 2,880 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Parsley Energy by 17.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,355 shares of the oil and natural gas company’s stock valued at $800,000 after purchasing an additional 3,976 shares during the period. Russell Investments Group Ltd. raised its stake in Parsley Energy by 14.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 478,455 shares of the oil and natural gas company’s stock valued at $13,994,000 after purchasing an additional 59,682 shares during the period. Finally, SPC Financial Inc. bought a new stake in Parsley Energy during the 3rd quarter valued at approximately $699,000. 84.13% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on PE. Zacks Investment Research downgraded Parsley Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Susquehanna Bancshares began coverage on Parsley Energy in a research note on Wednesday, July 11th. They set a “positive” rating and a $38.00 target price on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $49.00 target price on shares of Parsley Energy in a research note on Friday, July 20th. Williams Capital set a $38.00 target price on Parsley Energy and gave the company a “hold” rating in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus set a $58.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, August 8th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.62.
Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The company had revenue of $467.79 million during the quarter, compared to analysts’ expectations of $431.02 million. Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. Sell-side analysts predict that Parsley Energy Inc will post 1.62 earnings per share for the current fiscal year.
In other news, insider Bryan Sheffield sold 2,500,000 shares of Parsley Energy stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $28.15, for a total value of $70,375,000.00. Following the completion of the transaction, the insider now owns 9,033,063 shares in the company, valued at approximately $254,280,723.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hemang Desai bought 1,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was bought at an average price of $27.32 per share, with a total value of $27,320.00. Following the acquisition, the director now owns 31,886 shares in the company, valued at approximately $871,125.52. The disclosure for this purchase can be found here. In the last quarter, insiders sold 2,763,328 shares of company stock valued at $78,318,180. Company insiders own 13.17% of the company’s stock.
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.
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