King Luther Capital Management Corp boosted its holdings in Parsley Energy, Inc. (NYSE:PE) by 53.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,036 shares of the oil and natural gas company’s stock after acquiring an additional 34,930 shares during the quarter. King Luther Capital Management Corp’s holdings in Parsley Energy were worth $2,635,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Apollo Management Holdings L.P. acquired a new position in shares of Parsley Energy during the 2nd quarter valued at $414,418,000. Victory Capital Management Inc. increased its position in shares of Parsley Energy by 250.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,264,371 shares of the oil and natural gas company’s stock valued at $201,586,000 after purchasing an additional 5,194,292 shares during the period. FMR LLC increased its position in shares of Parsley Energy by 40.2% during the 2nd quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock valued at $280,034,000 after purchasing an additional 2,893,045 shares during the period. Boston Partners increased its position in shares of Parsley Energy by 19.3% during the 3rd quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock valued at $402,148,000 after purchasing an additional 2,466,399 shares during the period. Finally, Third Point LLC increased its position in shares of Parsley Energy by 80.0% during the 2nd quarter. Third Point LLC now owns 4,500,000 shares of the oil and natural gas company’s stock valued at $124,875,000 after purchasing an additional 2,000,000 shares during the period. Hedge funds and other institutional investors own 80.16% of the company’s stock.
Several equities analysts have recently issued reports on the company. Northland Securities set a $43.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Monday, August 21st. Citigroup set a $51.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, August 15th. Imperial Capital assumed coverage on Parsley Energy in a research report on Tuesday, August 15th. They set an “outperform” rating and a $36.00 price target on the stock. Seaport Global Securities upgraded Parsley Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $32.00 in a research report on Friday, August 11th. Finally, J P Morgan Chase & Co lowered their price target on Parsley Energy from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.23.
Parsley Energy, Inc. (PE) traded up $0.35 on Friday, hitting $25.69. The stock had a trading volume of 2,644,600 shares, compared to its average volume of 4,816,790. The company has a market cap of $8,290.00, a price-to-earnings ratio of 66.68 and a beta of -0.05. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy, Inc. has a 1-year low of $22.98 and a 1-year high of $38.18.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company’s revenue was up 81.8% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS. equities research analysts expect that Parsley Energy, Inc. will post 0.49 EPS for the current fiscal year.
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Parsley Energy Profile
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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