AMG National Trust Bank raised its stake in shares of Parsley Energy Inc (NYSE:PE) by 38.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,035 shares of the oil and natural gas company’s stock after purchasing an additional 16,253 shares during the period. AMG National Trust Bank’s holdings in Parsley Energy were worth $975,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of PE. Vanguard Group Inc. boosted its stake in shares of Parsley Energy by 1.3% in the second quarter. Vanguard Group Inc. now owns 24,613,756 shares of the oil and natural gas company’s stock valued at $467,908,000 after purchasing an additional 306,322 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Parsley Energy by 1,349.5% in the second quarter. Nuveen Asset Management LLC now owns 19,366,848 shares of the oil and natural gas company’s stock valued at $368,163,000 after purchasing an additional 18,030,770 shares during the period. BlackRock Inc. boosted its stake in shares of Parsley Energy by 2.7% in the second quarter. BlackRock Inc. now owns 13,546,873 shares of the oil and natural gas company’s stock valued at $257,526,000 after purchasing an additional 354,766 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Parsley Energy by 22.2% in the second quarter. Victory Capital Management Inc. now owns 8,321,521 shares of the oil and natural gas company’s stock valued at $158,192,000 after purchasing an additional 1,511,168 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Parsley Energy by 28.8% in the second quarter. Invesco Ltd. now owns 7,101,220 shares of the oil and natural gas company’s stock valued at $134,995,000 after purchasing an additional 1,587,326 shares during the period. 79.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Parsley Energy stock traded up $0.75 during trading hours on Wednesday, reaching $15.78. The company’s stock had a trading volume of 6,161,647 shares, compared to its average volume of 5,434,170. The company’s 50 day simple moving average is $16.04 and its 200 day simple moving average is $17.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.56 and a current ratio of 0.56. Parsley Energy Inc has a one year low of $13.72 and a one year high of $22.11. The stock has a market cap of $5.00 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 0.35 and a beta of 0.55.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.05). Parsley Energy had a return on equity of 4.96% and a net margin of 14.03%. The business had revenue of $510.15 million during the quarter, compared to the consensus estimate of $503.05 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts predict that Parsley Energy Inc will post 1.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, December 10th will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. Parsley Energy’s payout ratio is currently 8.51%.
In other Parsley Energy news, Director Ron Brokmeyer purchased 5,000 shares of Parsley Energy stock in a transaction dated Friday, November 29th. The shares were bought at an average cost of $14.95 per share, for a total transaction of $74,750.00. Following the transaction, the director now owns 13,897 shares in the company, valued at approximately $207,760.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.14% of the company’s stock.
Several brokerages have recently weighed in on PE. Wells Fargo & Co upped their target price on shares of Parsley Energy from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Bank of America upped their target price on shares of Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. MKM Partners began coverage on shares of Parsley Energy in a research note on Tuesday, August 27th. They issued a “buy” rating and a $26.00 target price for the company. Northland Securities restated a “buy” rating and issued a $23.00 target price on shares of Parsley Energy in a research note on Wednesday, November 6th. Finally, SunTrust Banks set a $23.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.07.
About Parsley Energy
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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