Sentry Investment Management LLC boosted its position in Parsley Energy Inc (NYSE:PE) by 29.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,631 shares of the oil and natural gas company’s stock after acquiring an additional 29,063 shares during the quarter. Sentry Investment Management LLC’s holdings in Parsley Energy were worth $3,762,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in Parsley Energy by 487.2% during the second quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock worth $124,000 after purchasing an additional 3,376 shares in the last quarter. MHI Funds LLC acquired a new stake in Parsley Energy during the second quarter worth approximately $163,000. Deprince Race & Zollo Inc. acquired a new stake in Parsley Energy during the second quarter worth approximately $212,000. Fox Run Management L.L.C. acquired a new stake in Parsley Energy during the second quarter worth approximately $224,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Parsley Energy during the second quarter worth approximately $286,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Mike Hinson sold 13,328 shares of Parsley Energy stock in a transaction on Friday, August 24th. The shares were sold at an average price of $28.75, for a total value of $383,180.00. Following the transaction, the insider now directly owns 400,650 shares in the company, valued at approximately $11,518,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hemang Desai acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was purchased at an average price of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the transaction, the director now owns 31,886 shares in the company, valued at $871,125.52. The disclosure for this purchase can be found here. Company insiders own 13.17% of the company’s stock.
Parsley Energy (NYSE:PE) last announced its earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $493.44 million. Parsley Energy had a net margin of 21.70% and a return on equity of 6.77%. The company’s revenue for the quarter was up 112.0% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Analysts anticipate that Parsley Energy Inc will post 1.65 earnings per share for the current year.
A number of analysts have weighed in on PE shares. Piper Jaffray Companies reissued a “buy” rating and set a $49.00 price objective on shares of Parsley Energy in a report on Friday, July 20th. Zacks Investment Research cut shares of Parsley Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Stifel Nicolaus set a $58.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, August 8th. Williams Capital set a $38.00 price objective on shares of Parsley Energy and gave the stock a “hold” rating in a report on Wednesday, August 8th. Finally, Jefferies Financial Group raised their price objective on shares of Parsley Energy from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, August 14th. Five investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $38.33.
About Parsley Energy
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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