Parsley Energy Inc (NYSE:PE) Shares Sold by Peregrine Capital Management LLC

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Peregrine Capital Management LLC trimmed its holdings in shares of Parsley Energy Inc (NYSE:PE) by 41.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 570,065 shares of the oil and natural gas company’s stock after selling 404,186 shares during the quarter. Peregrine Capital Management LLC owned 0.14% of Parsley Energy worth $6,088,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Parsley Energy during the fourth quarter worth about $12,969,000. Cerebellum GP LLC acquired a new position in shares of Parsley Energy during the second quarter worth about $128,000. Mutual of America Capital Management LLC grew its position in shares of Parsley Energy by 122.9% during the first quarter. Mutual of America Capital Management LLC now owns 4,458 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 2,458 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Parsley Energy by 39.6% during the second quarter. Parallel Advisors LLC now owns 4,894 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 1,389 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Parsley Energy by 22.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,381 shares of the oil and natural gas company’s stock worth $102,000 after buying an additional 993 shares in the last quarter. 68.35% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the company. Wells Fargo & Co boosted their price objective on Parsley Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. Cfra boosted their target price on Parsley Energy from $8.00 to $12.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. UBS Group boosted their target price on Parsley Energy from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. SunTrust Banks decreased their target price on Parsley Energy from $11.00 to $9.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Finally, KeyCorp decreased their target price on Parsley Energy from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and an average target price of $16.58.

NYSE:PE opened at $10.98 on Friday. The firm has a market cap of $4.53 billion, a P/E ratio of -1.29, a PEG ratio of 1.87 and a beta of 2.13. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $10.86 and its 200-day simple moving average is $11.06. Parsley Energy Inc has a 12-month low of $3.92 and a 12-month high of $20.80.

Parsley Energy (NYSE:PE) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. The business had revenue of $564.80 million for the quarter, compared to analyst estimates of $597.35 million. Parsley Energy had a positive return on equity of 5.98% and a negative net margin of 151.11%. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Research analysts forecast that Parsley Energy Inc will post 0.16 EPS for the current fiscal year.

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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