Wells Fargo & Company MN boosted its holdings in Parsley Energy Inc (NYSE:PE) by 6.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,222,570 shares of the oil and natural gas company’s stock after purchasing an additional 70,520 shares during the quarter. Wells Fargo & Company MN owned about 0.30% of Parsley Energy worth $7,005,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in PE. Capital World Investors raised its position in shares of Parsley Energy by 378.3% in the 4th quarter. Capital World Investors now owns 8,165,583 shares of the oil and natural gas company’s stock worth $154,411,000 after purchasing an additional 6,458,383 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Parsley Energy in the fourth quarter worth about $95,234,000. Janus Henderson Group PLC lifted its stake in shares of Parsley Energy by 6,671.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,611,116 shares of the oil and natural gas company’s stock worth $49,376,000 after buying an additional 2,572,556 shares in the last quarter. Norges Bank purchased a new stake in shares of Parsley Energy during the fourth quarter valued at approximately $41,332,000. Finally, State Street Corp increased its position in shares of Parsley Energy by 28.8% during the first quarter. State Street Corp now owns 9,075,120 shares of the oil and natural gas company’s stock valued at $52,000,000 after acquiring an additional 2,027,914 shares in the last quarter. 68.39% of the stock is owned by institutional investors and hedge funds.
Shares of PE opened at $10.59 on Wednesday. The firm has a market capitalization of $4.37 billion, a P/E ratio of -1.25, a P/E/G ratio of 5.03 and a beta of 2.11. Parsley Energy Inc has a 12-month low of $3.92 and a 12-month high of $20.80. The firm has a fifty day moving average price of $10.32 and a 200-day moving average price of $12.24. 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 (NYSE:PE) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. Parsley Energy had a negative net margin of 151.11% and a positive return on equity of 5.98%. The company had revenue of $564.80 million during the quarter, compared to analysts’ expectations of $597.35 million. During the same period in the previous year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. Analysts predict that Parsley Energy Inc will post 0.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, June 8th. Parsley Energy’s dividend payout ratio (DPR) is presently 17.86%.
Several brokerages have commented on PE. Credit Suisse Group reiterated an “outperform” rating and set a $13.00 target price on shares of Parsley Energy in a research note on Thursday, March 19th. KeyCorp upped their target price on shares of Parsley Energy from $13.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Morgan Stanley upgraded shares of Parsley Energy from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 19th. Raymond James lifted their target price on shares of Parsley Energy from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, R. F. Lafferty started coverage on Parsley Energy in a report on Wednesday, June 17th. They issued a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $16.70.
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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