Parsley Energy Inc (PE) Stake Lessened by AMP Capital Investors Ltd

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AMP Capital Investors Ltd lessened its stake in shares of Parsley Energy Inc (NYSE:PE) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,701 shares of the oil and natural gas company’s stock after selling 2,600 shares during the period. AMP Capital Investors Ltd’s holdings in Parsley Energy were worth $1,806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PE. Bank of New York Mellon Corp boosted its stake in Parsley Energy by 20.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock valued at $208,786,000 after purchasing an additional 1,156,137 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Parsley Energy by 11.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,950 shares of the oil and natural gas company’s stock worth $877,000 after buying an additional 3,008 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Parsley Energy by 17.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 955,564 shares of the oil and natural gas company’s stock worth $28,935,000 after buying an additional 145,243 shares during the last quarter. Korea Investment CORP purchased a new position in shares of Parsley Energy in the 2nd quarter worth $654,000. Finally, US Bancorp DE boosted its stake in shares of Parsley Energy by 14.9% in the 2nd quarter. US Bancorp DE now owns 1,159,446 shares of the oil and natural gas company’s stock worth $35,108,000 after buying an additional 150,615 shares during the last quarter. 84.58% of the stock is owned by institutional investors.

A number of equities analysts have recently issued reports on PE shares. Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $47.00 target price on shares of Parsley Energy in a research report on Thursday, August 16th. KLR Group reiterated a “buy” rating and set a $43.00 target price on shares of Parsley Energy in a research report on Monday, August 20th. Zacks Investment Research downgraded Parsley Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Williams Capital set a $36.00 target price on Parsley Energy and gave the company a “hold” rating in a research report on Monday, August 20th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.60.

Shares of NYSE PE traded up $0.46 during trading hours on Friday, reaching $29.00. The stock had a trading volume of 4,057,289 shares, compared to its average volume of 5,353,040. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 0.62 and a beta of -0.56. Parsley Energy Inc has a 52-week low of $21.12 and a 52-week high of $33.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.93 and a current ratio of 0.93.

Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $467.79 million during the quarter, compared to the consensus estimate of $431.02 million. Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. Analysts forecast that Parsley Energy Inc will post 1.56 earnings per share for the current year.

In other Parsley Energy news, Director Hemang Desai purchased 1,000 shares of Parsley Energy stock in a transaction dated Tuesday, September 4th. The shares were acquired at an average cost of $27.32 per share, with a total value of $27,320.00. Following the completion of the transaction, the director now owns 31,886 shares in the company, valued at approximately $871,125.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mike Hinson sold 250,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $30.24, for a total value of $7,560,000.00. Following the transaction, the insider now directly owns 663,978 shares in the company, valued at $20,078,694.72. The disclosure for this sale can be found here. Insiders sold 2,763,328 shares of company stock valued at $78,318,180 in the last three months. 13.17% of the stock is currently owned by insiders.

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.

Further Reading: What is the balance sheet?

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

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