Hsbc Holdings PLC Decreases Stake in Parsley Energy Inc (PE)

Hsbc Holdings PLC reduced its holdings in Parsley Energy Inc (NYSE:PE) by 26.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 52,040 shares of the oil and natural gas company’s stock after selling 18,683 shares during the period. Hsbc Holdings PLC’s holdings in Parsley Energy were worth $1,508,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Viking Global Investors LP increased its position in Parsley Energy by 129.7% during the fourth quarter. Viking Global Investors LP now owns 18,144,801 shares of the oil and natural gas company’s stock worth $534,183,000 after purchasing an additional 10,245,991 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in Parsley Energy by 9.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 9,885,217 shares of the oil and natural gas company’s stock worth $291,021,000 after purchasing an additional 855,841 shares during the last quarter. JPMorgan Chase & Co. increased its position in Parsley Energy by 96.8% during the first quarter. JPMorgan Chase & Co. now owns 9,608,948 shares of the oil and natural gas company’s stock worth $278,563,000 after purchasing an additional 4,726,116 shares during the last quarter. Teachers Advisors LLC increased its position in Parsley Energy by 34.9% during the fourth quarter. Teachers Advisors LLC now owns 6,101,167 shares of the oil and natural gas company’s stock worth $179,618,000 after purchasing an additional 1,578,132 shares during the last quarter. Finally, Millennium Management LLC increased its position in Parsley Energy by 12.7% during the fourth quarter. Millennium Management LLC now owns 4,900,711 shares of the oil and natural gas company’s stock worth $144,277,000 after purchasing an additional 551,898 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Shares of PE opened at $28.63 on Wednesday. Parsley Energy Inc has a 1-year low of $21.12 and a 1-year high of $33.43. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 41.49, a P/E/G ratio of 0.60 and a beta of -0.51. 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 (NYSE:PE) last announced its quarterly earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. Parsley Energy had a net margin of 13.82% and a return on equity of 3.71%. The business had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $348.64 million. During the same period last year, the business earned $0.13 earnings per share. The business’s revenue for the quarter was up 95.5% on a year-over-year basis. equities research analysts predict that Parsley Energy Inc will post 1.57 earnings per share for the current fiscal year.

In other news, insider Colin Roberts sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $28.29, for a total value of $212,175.00. Following the completion of the transaction, the insider now owns 254,204 shares of the company’s stock, valued at $7,191,431.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mike Hinson sold 41,681 shares of the firm’s stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $31.95, for a total transaction of $1,331,707.95. Following the completion of the transaction, the insider now directly owns 422,626 shares of the company’s stock, valued at approximately $13,502,900.70. The disclosure for this sale can be found here. In the last three months, insiders sold 59,181 shares of company stock valued at $1,859,783. Insiders own 13.17% of the company’s stock.

Several equities research analysts recently issued reports on PE shares. TheStreet upgraded shares of Parsley Energy from a “c+” rating to a “b” rating in a research report on Thursday, May 3rd. SunTrust Banks set a $34.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Thursday, March 29th. Stifel Nicolaus set a $57.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. Piper Jaffray Companies restated a “buy” rating and set a $39.00 price objective on shares of Parsley Energy in a research report on Thursday, March 15th. Finally, JPMorgan Chase & Co. set a $45.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, March 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.67.

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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Institutional Ownership by Quarter for Parsley Energy (NYSE:PE)

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