Pitcairn Co. Buys Shares of 27,647 Parsley Energy Inc (NYSE:PE)

Pitcairn Co. bought a new stake in shares of Parsley Energy Inc (NYSE:PE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,647 shares of the oil and natural gas company’s stock, valued at approximately $295,000.

Several other large investors have also made changes to their positions in PE. Raymond James & Associates raised its stake in shares of Parsley Energy by 73.1% during the second quarter. Raymond James & Associates now owns 509,914 shares of the oil and natural gas company’s stock valued at $5,446,000 after acquiring an additional 215,363 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Parsley Energy by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,707 shares of the oil and natural gas company’s stock valued at $360,000 after acquiring an additional 3,575 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Parsley Energy during the second quarter valued at approximately $329,000. Nisa Investment Advisors LLC raised its stake in shares of Parsley Energy by 29.2% during the second quarter. Nisa Investment Advisors LLC now owns 24,800 shares of the oil and natural gas company’s stock valued at $265,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in shares of Parsley Energy by 185.7% during the second quarter. Viking Fund Management LLC now owns 400,000 shares of the oil and natural gas company’s stock valued at $4,272,000 after acquiring an additional 260,000 shares in the last quarter. Institutional investors and hedge funds own 68.35% of the company’s stock.

Several analysts have recently weighed in on PE shares. Cfra lifted their price target on shares of Parsley Energy from $8.00 to $12.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. TheStreet downgraded shares of Parsley Energy from a “c-” rating to a “d” rating in a research note on Monday, May 4th. Morgan Stanley lifted their price target on shares of Parsley Energy from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. ValuEngine raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Raymond James raised shares of Parsley Energy from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $12.00 to $16.00 in a research note on Monday, July 20th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $16.58.

Shares of PE stock opened at $10.98 on Friday. The business’s fifty day simple moving average is $10.86 and its 200-day simple moving average is $11.06. The company has a market cap of $4.53 billion, a PE ratio of 9.31, 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. Parsley Energy Inc has a 12-month low of $3.92 and a 12-month high of $20.80.

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