TIAA CREF Investment Management LLC grew its holdings in Parsley Energy Inc (NYSE:PE) by 9.5% during the 4th quarter, Holdings Channel reports. The fund owned 9,885,217 shares of the oil and natural gas company’s stock after purchasing an additional 855,841 shares during the period. TIAA CREF Investment Management LLC’s holdings in Parsley Energy were worth $291,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in PE. Teachers Advisors LLC boosted its holdings in Parsley Energy by 34.9% during the fourth quarter. Teachers Advisors LLC now owns 6,101,167 shares of the oil and natural gas company’s stock worth $179,618,000 after buying an additional 1,578,132 shares in the last quarter. Raymond James & Associates boosted its holdings in Parsley Energy by 17.2% during the fourth quarter. Raymond James & Associates now owns 508,774 shares of the oil and natural gas company’s stock worth $14,978,000 after buying an additional 74,726 shares in the last quarter. Luminus Management LLC boosted its holdings in Parsley Energy by 113.7% during the fourth quarter. Luminus Management LLC now owns 900,000 shares of the oil and natural gas company’s stock worth $26,496,000 after buying an additional 478,800 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in Parsley Energy during the fourth quarter worth $16,918,000. Finally, Ellington Management Group LLC purchased a new stake in Parsley Energy during the fourth quarter worth $330,000. 82.60% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on PE. Bank of America increased their price target on shares of Parsley Energy from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Credit Suisse Group set a $38.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $38.00 to $34.00 in a report on Tuesday, January 30th. Piper Jaffray Companies reissued a “buy” rating and set a $38.00 price target on shares of Parsley Energy in a report on Friday, February 2nd. Finally, Morgan Stanley downgraded shares of Parsley Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.13.
Parsley Energy Inc (NYSE:PE) opened at $26.82 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8,480.31, a price-to-earnings ratio of 43.18, a price-to-earnings-growth ratio of 1.28 and a beta of -0.39. Parsley Energy Inc has a twelve month low of $21.12 and a twelve month high of $33.07.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The business had revenue of $311.49 million for the quarter, compared to the consensus estimate of $298.04 million. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The company’s revenue was up 99.8% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. equities research analysts predict that Parsley Energy Inc will post 1.16 EPS for the current year.
In other Parsley Energy news, Director Ron Brokmeyer bought 2,000 shares of Parsley Energy stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $25.66 per share, for a total transaction of $51,320.00. Following the completion of the transaction, the director now directly owns 112,128 shares of the company’s stock, valued at $2,877,204.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bryan Sheffield bought 189,500 shares of Parsley Energy stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the completion of the transaction, the insider now directly owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The disclosure for this purchase can be found here. 15.51% of the stock is owned by corporate insiders.
About Parsley Energy
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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