Boston Partners Increases Stake in Parsley Energy Inc (NYSE:PE)

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Boston Partners increased its holdings in shares of Parsley Energy Inc (NYSE:PE) by 21.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,535,990 shares of the oil and natural gas company’s stock after buying an additional 631,328 shares during the period. Boston Partners owned about 1.12% of Parsley Energy worth $67,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sapience Investments LLC increased its position in shares of Parsley Energy by 0.3% in the 1st quarter. Sapience Investments LLC now owns 209,050 shares of the oil and natural gas company’s stock valued at $4,035,000 after purchasing an additional 670 shares during the last quarter. Comerica Bank grew its position in shares of Parsley Energy by 6.8% in the 1st quarter. Comerica Bank now owns 11,311 shares of the oil and natural gas company’s stock valued at $210,000 after buying an additional 720 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its position in shares of Parsley Energy by 6.6% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,172 shares of the oil and natural gas company’s stock valued at $273,000 after buying an additional 877 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Parsley Energy by 4.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,007 shares of the oil and natural gas company’s stock valued at $425,000 after buying an additional 954 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Parsley Energy by 22.9% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after buying an additional 958 shares during the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PE traded down $0.35 during midday trading on Thursday, hitting $18.63. The company had a trading volume of 53,358 shares, compared to its average volume of 4,065,140. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. Parsley Energy Inc has a twelve month low of $13.72 and a twelve month high of $31.05. The business has a 50-day simple moving average of $16.83 and a two-hundred day simple moving average of $18.19. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.40 and a beta of 0.49.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 last year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was down 57.6% compared to the same quarter last year. On average, equities analysts forecast that Parsley Energy Inc will post 1.38 EPS for the current year.

The firm also recently announced a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, September 19th.

A number of research analysts recently commented on PE shares. Wells Fargo & Co increased their target price on shares of Parsley Energy from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Bank of America increased their target price on shares of Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. TD Securities increased their price target on shares of Parsley Energy from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird set a $22.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, SunTrust Banks set a $23.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Parsley Energy presently has an average rating of “Buy” and an average price target of $28.84.

Parsley Energy Profile

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

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