Great West Life Assurance Co. Can acquired a new position in shares of Parsley Energy Inc (NYSE:PE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,333 shares of the oil and natural gas company’s stock, valued at approximately $363,000.
Several other institutional investors also recently made changes to their positions in the company. Schroder Investment Management Group raised its stake in shares of Parsley Energy by 22.2% during the 4th quarter. Schroder Investment Management Group now owns 3,680,089 shares of the oil and natural gas company’s stock worth $69,590,000 after purchasing an additional 667,635 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Parsley Energy by 8.7% during the 4th quarter. Prudential Financial Inc. now owns 668,238 shares of the oil and natural gas company’s stock worth $12,636,000 after purchasing an additional 53,708 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Parsley Energy by 52.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 236,935 shares of the oil and natural gas company’s stock worth $4,480,000 after purchasing an additional 81,570 shares in the last quarter. Chicago Equity Partners LLC raised its stake in shares of Parsley Energy by 24.6% during the 4th quarter. Chicago Equity Partners LLC now owns 39,110 shares of the oil and natural gas company’s stock worth $740,000 after purchasing an additional 7,718 shares in the last quarter. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Parsley Energy during the 4th quarter worth approximately $47,000. Institutional investors own 64.07% of the company’s stock.
PE stock opened at $5.71 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $2.37 billion, a PE ratio of 9.21, a PEG ratio of 0.16 and a beta of 0.98. Parsley Energy Inc has a 1-year low of $3.92 and a 1-year high of $22.11. The business’s 50 day simple moving average is $12.16 and its 200 day simple moving average is $15.86.
Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, February 19th. The oil and natural gas company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The business had revenue of $522.45 million for the quarter, compared to analyst estimates of $514.82 million. Parsley Energy had a return on equity of 4.87% and a net margin of 8.94%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, sell-side analysts predict that Parsley Energy Inc will post 1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Parsley Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, March 9th. Parsley Energy’s dividend payout ratio is currently 17.86%.
In other news, Director A R. Alameddine acquired 10,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $13.24 per share, with a total value of $132,400.00. Corporate insiders own 12.14% of the company’s stock.
PE has been the topic of a number of analyst reports. Wells Fargo & Co dropped their price objective on Parsley Energy from $23.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Imperial Capital upped their price objective on Parsley Energy from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. UBS Group upped their price objective on Parsley Energy from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. SunTrust Banks cut Parsley Energy from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research note on Monday, March 9th. Finally, KeyCorp upped their price objective on Parsley Energy from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $18.99.
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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