Ninepoint Partners LP purchased a new position in Parsley Energy Inc (NYSE:PE) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 325,000 shares of the oil and natural gas company’s stock, valued at approximately $9,422,000. Parsley Energy makes up approximately 0.7% of Ninepoint Partners LP’s portfolio, making the stock its 23rd biggest holding. Ninepoint Partners LP owned 0.10% of Parsley Energy at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of Parsley Energy by 417.5% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after buying an additional 2,864 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Parsley Energy by 67.0% during the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock worth $118,000 after buying an additional 1,639 shares in the last quarter. Cerebellum GP LLC acquired a new position in Parsley Energy during the fourth quarter valued at approximately $128,000. American International Group Inc. acquired a new position in Parsley Energy during the fourth quarter valued at approximately $155,000. Finally, M&T Bank Corp acquired a new position in Parsley Energy during the fourth quarter valued at approximately $249,000. Institutional investors own 85.64% of the company’s stock.
In other Parsley Energy news, insider Colin Roberts sold 7,500 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $28.29, for a total transaction of $212,175.00. Following the transaction, the insider now owns 254,204 shares in the company, valued at approximately $7,191,431.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ron Brokmeyer acquired 2,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $25.66 per share, for a total transaction of $51,320.00. Following the purchase, the director now owns 112,128 shares in the company, valued at $2,877,204.48. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 59,181 shares of company stock valued at $1,859,783. 13.17% of the stock is currently owned by insiders.
NYSE:PE opened at $30.78 on Thursday. The company has a market cap of $9.83 billion, a P/E ratio of 44.61, a PEG ratio of 0.70 and a beta of -0.50. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.37. Parsley Energy Inc has a 1-year low of $21.12 and a 1-year high of $33.43.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. The business had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $348.64 million. Parsley Energy had a return on equity of 3.71% and a net margin of 13.82%. The firm’s revenue for the quarter was up 95.5% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. equities research analysts forecast that Parsley Energy Inc will post 1.49 earnings per share for the current year.
Several research analysts recently commented on PE shares. Morgan Stanley increased their price target on Parsley Energy from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Williams Capital cut Parsley Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from $38.00 to $34.00 in a research report on Tuesday, January 30th. Stifel Nicolaus set a $49.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Monday, January 29th. Citigroup cut Parsley Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Tuesday, January 30th. Finally, Credit Suisse Group reduced their price target on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.79.
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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