Shepherd Kaplan Krochuk LLC lifted its position in Parsley Energy Inc (NYSE:PE) by 154.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,920 shares of the oil and natural gas company’s stock after acquiring an additional 58,800 shares during the period. Parsley Energy comprises approximately 1.3% of Shepherd Kaplan Krochuk LLC’s holdings, making the stock its 12th largest position. Shepherd Kaplan Krochuk LLC’s holdings in Parsley Energy were worth $1,842,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Parsley Energy during the first quarter valued at approximately $37,000. Quadrant Capital Group LLC grew its position in Parsley Energy by 462.5% during the first quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock valued at $71,000 after purchasing an additional 3,136 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Parsley Energy during the second quarter valued at approximately $76,000. Machina Capital S.A.S. purchased a new position in Parsley Energy during the second quarter valued at approximately $86,000. Finally, Stephens Inc. AR purchased a new position in Parsley Energy during the second quarter valued at approximately $122,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on PE. Williams Capital reaffirmed a “hold” rating and set a $26.00 price objective on shares of Parsley Energy in a research report on Thursday, May 2nd. Robert W. Baird set a $22.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Thursday, June 27th. Morgan Stanley set a $21.00 target price on shares of Parsley Energy and gave the company a “hold” rating in a research note on Monday, June 24th. Evercore ISI upgraded shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 target price for the company in a research note on Monday, May 6th. Finally, ValuEngine cut shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and a consensus price target of $29.07.
Shares of Parsley Energy stock traded down $0.70 on Friday, reaching $16.09. The stock had a trading volume of 4,837,886 shares, compared to its average volume of 5,780,744. The business’s 50-day moving average price is $16.56 and its two-hundred day moving average price is $18.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Parsley Energy Inc has a fifty-two week low of $13.72 and a fifty-two week high of $31.05. The stock has a market cap of $5.29 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.33 and a beta of 0.50.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $467.53 million. During the same period in the previous year, the company earned $0.39 earnings per share. Parsley Energy’s revenue for the quarter was down 57.6% on a year-over-year basis. As a group, equities analysts forecast that Parsley Energy Inc will post 1.41 earnings per share for the current fiscal year.
Parsley Energy Company 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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