Envestnet Asset Management Inc. raised its position in Parsley Energy Inc (NYSE:PE) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,078 shares of the oil and natural gas company’s stock after acquiring an additional 5,157 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Parsley Energy were worth $1,674,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Cullen Frost Bankers Inc. purchased a new position in shares of Parsley Energy during the 1st quarter valued at approximately $37,000. Quadrant Capital Group LLC boosted its stake in shares of Parsley Energy by 462.5% during the 1st quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock valued at $71,000 after buying an additional 3,136 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Parsley Energy during the 2nd quarter valued at approximately $76,000. Machina Capital S.A.S. purchased a new position in shares of Parsley Energy during the 2nd quarter valued at approximately $86,000. Finally, Stephens Inc. AR purchased a new position in shares of Parsley Energy during the 2nd quarter valued at approximately $122,000. 82.72% of the stock is owned by institutional investors.
Several research firms have recently commented on PE. TD Securities increased their target price on Parsley Energy from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Co increased their target price on Parsley Energy from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Cowen set a $24.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, August 21st. Robert W. Baird set a $22.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Morgan Stanley set a $21.00 target price on Parsley Energy and gave the company a “hold” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $28.95.
Shares of PE opened at $17.37 on Wednesday. The business’s fifty day moving average price is $16.32 and its 200 day moving average price is $18.23. Parsley Energy Inc has a 12-month low of $13.72 and a 12-month high of $31.05. The stock has a market capitalization of $5.67 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.36 and a beta of 0.48. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.50 and a quick ratio of 0.50.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $467.53 million. During the same period last year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was down 57.6% on a year-over-year basis. As a group, research analysts anticipate that Parsley Energy Inc will post 1.39 earnings per share for the current fiscal year.
The company also recently disclosed a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 19th.
Parsley Energy 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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