KCG Holdings Inc. reduced its position in Parsley Energy, Inc. (NYSE:PE) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,739 shares of the oil and natural gas company’s stock after selling 830 shares during the period. KCG Holdings Inc.’s holdings in Parsley Energy were worth $544,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of PE. Ladenburg Thalmann Financial Services Inc. raised its position in Parsley Energy by 9.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,043 shares of the oil and natural gas company’s stock worth $107,000 after buying an additional 251 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Parsley Energy during the first quarter worth $133,000. Creative Planning raised its position in Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock worth $147,000 after buying an additional 4,425 shares during the period. Fortaleza Asset Management Inc. raised its position in Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock worth $148,000 after buying an additional 1,520 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 300 shares during the period. 91.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Parsley Energy, Inc. (PE) opened at 26.90 on Monday. The stock’s market cap is $6.63 billion. Parsley Energy, Inc. has a 12-month low of $25.17 and a 12-month high of $39.82. The company has a 50 day moving average price of $29.06 and a 200 day moving average price of $31.90.
Parsley Energy (NYSE:PE) last issued its earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The firm had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $181.23 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 222.5% compared to the same quarter last year. Analysts anticipate that Parsley Energy, Inc. will post $0.67 earnings per share for the current fiscal year.
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A number of equities analysts have weighed in on the company. Scotiabank set a $43.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research note on Saturday, May 6th. BidaskClub raised Parsley Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets set a $35.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, June 26th. FBR & Co set a $42.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, June 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $41.00 price objective on shares of Parsley Energy in a research note on Tuesday, March 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $40.65.
In related news, insider Ryan Dalton sold 30,000 shares of Parsley Energy stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $32.56, for a total value of $976,800.00. Following the transaction, the insider now owns 329,957 shares in the company, valued at $10,743,399.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Colin Roberts sold 3,000 shares of Parsley Energy stock in a transaction on Monday, May 1st. The shares were sold at an average price of $29.56, for a total value of $88,680.00. Following the completion of the transaction, the insider now owns 232,726 shares in the company, valued at approximately $6,879,380.56. The disclosure for this sale can be found here. Insiders sold 1,723,900 shares of company stock worth $54,188,730 in the last quarter. 15.51% of the stock is owned by insiders.
Parsley Energy Company Profile
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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