Icon Advisers Inc. Co. decreased its position in shares of Parsley Energy Inc (NYSE:PE) by 53.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,700 shares of the oil and natural gas company’s stock after selling 277,777 shares during the period. Icon Advisers Inc. Co. owned approximately 0.08% of Parsley Energy worth $4,671,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of PE. Cullen Frost Bankers Inc. bought a new position in shares of Parsley Energy in the 1st quarter valued at about $37,000. Quadrant Capital Group LLC lifted its holdings in shares of Parsley Energy by 462.5% in the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock valued at $71,000 after acquiring an additional 3,136 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Parsley Energy in the 2nd quarter valued at about $76,000. Machina Capital S.A.S. bought a new position in shares of Parsley Energy in the 2nd quarter valued at about $86,000. Finally, Stephens Inc. AR bought a new position in shares of Parsley Energy in the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 82.88% of the company’s stock.
A number of brokerages recently commented on PE. ValuEngine downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 12th. KeyCorp increased their price target on shares of Parsley Energy from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Robert W. Baird set a $22.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Thursday, June 27th. TD Securities increased their price target on shares of Parsley Energy from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Co raised their price objective on shares of Parsley Energy from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.75.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The firm had revenue of $198.50 million during the quarter, compared to the consensus estimate of $467.53 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was down 57.6% on a year-over-year basis. As a group, research analysts anticipate that Parsley Energy Inc will post 1.36 EPS for the current fiscal year.
In related news, insider Bryan Sheffield sold 100,000 shares of Parsley Energy stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the transaction, the insider now directly owns 8,801,632 shares of the company’s stock, valued at $178,145,031.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jerry Windlinger acquired 1,985 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the completion of the acquisition, the director now owns 33,382 shares of the company’s stock, valued at $584,185. The disclosure for this purchase can be found here. Insiders own 12.14% of the company’s stock.
Parsley Energy 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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