Renaissance Technologies LLC raised its stake in shares of Parsley Energy Inc (NYSE:PE) by 1,152.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 940,500 shares of the oil and natural gas company’s stock after purchasing an additional 865,400 shares during the quarter. Renaissance Technologies LLC owned 0.30% of Parsley Energy worth $27,688,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Assetmark Inc. boosted its holdings in shares of Parsley Energy by 417.5% in the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after acquiring an additional 2,864 shares in the last quarter. Cerebellum GP LLC acquired a new position in shares of Parsley Energy in the 4th quarter worth approximately $128,000. American International Group Inc. acquired a new position in shares of Parsley Energy in the 4th quarter worth approximately $155,000. Trexquant Investment LP acquired a new position in shares of Parsley Energy in the 3rd quarter worth approximately $206,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Parsley Energy in the 3rd quarter worth approximately $209,000. 81.97% of the stock is currently owned by institutional investors.
Shares of Parsley Energy Inc (PE) opened at $27.50 on Friday. The company has a market cap of $8,914.30, a price-to-earnings ratio of 45.39, a price-to-earnings-growth ratio of 1.36 and a beta of -0.39. Parsley Energy Inc has a 1 year low of $21.12 and a 1 year high of $33.07. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37.
Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. The company had revenue of $311.49 million during the quarter, compared to analysts’ expectations of $298.04 million. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The business’s revenue for the quarter was up 99.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. equities research analysts forecast that Parsley Energy Inc will post 1.15 earnings per share for the current fiscal year.
In other Parsley Energy news, Director Ron Brokmeyer bought 2,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of $25.66 per share, for a total transaction of $51,320.00. Following the transaction, the director now owns 112,128 shares of the company’s stock, valued at approximately $2,877,204.48. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bryan Sheffield bought 189,500 shares of the company’s stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the transaction, the insider now directly owns 11,533,063 shares in the company, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. Insiders own 15.51% of the company’s stock.
Several research analysts have recently commented on PE shares. Northland Securities set a $36.00 target price on Parsley Energy and gave the stock a “buy” rating in a report on Monday, December 11th. Credit Suisse Group started coverage on Parsley Energy in a report on Monday, December 11th. They issued an “outperform” rating and a $32.00 target price on the stock. Robert W. Baird started coverage on Parsley Energy in a report on Tuesday, December 19th. They issued an “outperform” rating and a $33.00 target price on the stock. ValuEngine downgraded Parsley Energy from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $41.00 price objective on shares of Parsley Energy in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the stock. Parsley Energy presently has an average rating of “Buy” and a consensus price target of $36.17.
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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