Allianz Asset Management GmbH increased its stake in shares of Parsley Energy Inc (NYSE:PE) by 30.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,849 shares of the oil and natural gas company’s stock after purchasing an additional 127,890 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.17% of Parsley Energy worth $10,491,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Parsley Energy during the 1st quarter valued at about $37,000. Quadrant Capital Group LLC grew its holdings in shares of Parsley Energy by 462.5% during the first 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 bought a new stake in shares of Parsley Energy during the second quarter worth about $76,000. Machina Capital S.A.S. acquired a new position in Parsley Energy during the 2nd quarter valued at about $86,000. Finally, Stephens Inc. AR bought a new position in shares of Parsley Energy during the second quarter valued at about $122,000. Institutional investors own 82.72% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, August 26th. TD Securities boosted their price target on shares of Parsley Energy from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley set a $21.00 price objective on Parsley Energy and gave the stock a “hold” rating in a report on Monday, June 24th. Wells Fargo & Co raised their price target on Parsley Energy from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Bank of America increased their price objective on Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $28.87.
Shares of NYSE PE traded up $0.41 during midday trading on Wednesday, reaching $18.80. 47,047 shares of the stock were exchanged, compared to its average volume of 3,601,965. The stock has a market capitalization of $5.60 billion, a P/E ratio of 13.43, a PEG ratio of 0.36 and a beta of 0.49. Parsley Energy Inc has a twelve month low of $13.72 and a twelve month high of $31.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. The company has a 50 day simple moving average of $16.48 and a 200 day simple moving average of $18.19.
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 for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The firm had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s quarterly revenue was down 57.6% compared to the same quarter last year. On average, research analysts expect that Parsley Energy Inc will post 1.38 earnings per share for the current year.
The company also recently disclosed a — dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, September 19th.
About Parsley Energy
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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