Parsley Energy Inc (PE) Position Cut by Mitchell Group Inc.

Mitchell Group Inc. lowered its position in shares of Parsley Energy Inc (NYSE:PE) by 4.2% in the third quarter, HoldingsChannel.com reports. The firm owned 807,520 shares of the oil and natural gas company’s stock after selling 35,360 shares during the period. Parsley Energy accounts for 4.5% of Mitchell Group Inc.’s investment portfolio, making the stock its 5th biggest holding. Mitchell Group Inc.’s holdings in Parsley Energy were worth $23,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Xact Kapitalforvaltning AB lifted its stake in Parsley Energy by 7.8% in the first quarter. Xact Kapitalforvaltning AB now owns 24,792 shares of the oil and natural gas company’s stock valued at $719,000 after buying an additional 1,797 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Parsley Energy by 15.8% in the third quarter. IFM Investors Pty Ltd now owns 13,954 shares of the oil and natural gas company’s stock valued at $408,000 after buying an additional 1,907 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Parsley Energy by 21.7% in the first quarter. The Manufacturers Life Insurance Company now owns 11,923 shares of the oil and natural gas company’s stock valued at $345,000 after buying an additional 2,124 shares in the last quarter. DNB Asset Management AS lifted its stake in Parsley Energy by 8.6% in the third quarter. DNB Asset Management AS now owns 27,791 shares of the oil and natural gas company’s stock valued at $813,000 after buying an additional 2,200 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Parsley Energy by 5.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,667 shares of the oil and natural gas company’s stock valued at $1,322,000 after buying an additional 2,265 shares in the last quarter. Hedge funds and other institutional investors own 84.13% of the company’s stock.

Shares of NYSE:PE traded down $0.23 on Tuesday, hitting $22.86. The company had a trading volume of 3,217,747 shares, compared to its average volume of 4,109,534. Parsley Energy Inc has a 1-year low of $21.12 and a 1-year high of $33.43. The company has a market cap of $7.74 billion, a P/E ratio of 33.13, a P/E/G ratio of 0.50 and a beta of -0.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.93.



Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%. The company had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million. As a group, equities research analysts expect that Parsley Energy Inc will post 1.62 earnings per share for the current year.

In related news, insider Bryan Sheffield sold 2,500,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $28.15, for a total value of $70,375,000.00. Following the transaction, the insider now directly owns 9,033,063 shares in the company, valued at $254,280,723.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mike Hinson sold 13,328 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $28.75, for a total transaction of $383,180.00. Following the completion of the transaction, the insider now owns 400,650 shares in the company, valued at $11,518,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,763,328 shares of company stock worth $78,318,180. Corporate insiders own 13.17% of the company’s stock.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $49.00 price target on shares of Parsley Energy in a research note on Friday, July 20th. Susquehanna Bancshares assumed coverage on shares of Parsley Energy in a research note on Wednesday, July 11th. They issued a “positive” rating and a $38.00 price target on the stock. Williams Capital set a $38.00 price target on shares of Parsley Energy and gave the company a “hold” rating in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $57.00 price target on shares of Parsley Energy in a research note on Wednesday, October 24th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.62.

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

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