Allianz Asset Management GmbH increased its holdings in Parsley Energy Inc (NYSE:PE) by 30.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 551,849 shares of the oil and natural gas company’s stock after acquiring an additional 127,890 shares during the quarter. Allianz Asset Management GmbH owned about 0.17% of Parsley Energy worth $10,491,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in PE. Wedge Capital Management L L P NC purchased a new position in Parsley Energy during the second quarter valued at $15,100,000. FMR LLC lifted its position in Parsley Energy by 7.2% during the first quarter. FMR LLC now owns 8,483,510 shares of the oil and natural gas company’s stock valued at $163,731,000 after buying an additional 571,136 shares during the period. Monarch Partners Asset Management LLC purchased a new position in Parsley Energy during the first quarter valued at $8,861,000. Geode Capital Management LLC lifted its position in Parsley Energy by 19.3% during the fourth quarter. Geode Capital Management LLC now owns 2,736,590 shares of the oil and natural gas company’s stock valued at $43,703,000 after buying an additional 443,379 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new position in Parsley Energy during the second quarter valued at $8,030,000. 82.72% of the stock is owned by institutional investors.
Several brokerages have commented on PE. MKM Partners began coverage on Parsley Energy in a research report on Tuesday, August 27th. They set a “buy” rating and a $26.00 price objective for the company. Cowen set a $24.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Wednesday, August 21st. Robert W. Baird set a $22.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded Parsley Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, ValuEngine upgraded Parsley Energy from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.95.
NYSE PE opened at $17.37 on Wednesday. Parsley Energy Inc has a one year low of $13.72 and a one year high of $31.05. The stock has a 50-day moving average of $16.32 and a 200 day moving average of $18.23. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.36 and a beta of 0.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50.
Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. The company had revenue of $198.50 million during the quarter, compared to the consensus estimate of $467.53 million. During the same period last year, the company earned $0.39 EPS. Parsley Energy’s revenue for the quarter was down 57.6% on a year-over-year basis. On average, equities analysts predict that Parsley Energy Inc will post 1.39 earnings per share for the current fiscal year.
The firm also recently disclosed a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 19th.
Parsley Energy Company 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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