Hsbc Holdings PLC decreased its stake in shares of Parsley Energy Inc (NYSE:PE) by 26.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,040 shares of the oil and natural gas company’s stock after selling 18,683 shares during the quarter. Hsbc Holdings PLC’s holdings in Parsley Energy were worth $1,508,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PE. Assetmark Inc. increased its stake in shares of Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after acquiring an additional 2,864 shares during the period. LS Investment Advisors LLC increased its stake in shares of Parsley Energy by 67.0% in the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock worth $118,000 after acquiring an additional 1,639 shares during the period. American International Group Inc. acquired a new stake in shares of Parsley Energy in the fourth quarter worth $155,000. M&T Bank Corp acquired a new stake in shares of Parsley Energy in the fourth quarter worth $249,000. Finally, S&CO Inc. acquired a new stake in shares of Parsley Energy in the first quarter worth $255,000. Institutional investors and hedge funds own 85.13% of the company’s stock.
Shares of Parsley Energy opened at $28.63 on Wednesday, according to Marketbeat. Parsley Energy Inc has a 1 year low of $21.12 and a 1 year high of $33.43. The firm has a market cap of $8.84 billion, a P/E ratio of 41.49, a PEG ratio of 0.60 and a beta of -0.51. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.37.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.07. The firm had revenue of $392.70 million for the quarter, compared to the consensus estimate of $348.64 million. Parsley Energy had a net margin of 13.82% and a return on equity of 3.71%. The firm’s quarterly revenue was up 95.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. research analysts anticipate that Parsley Energy Inc will post 1.57 EPS for the current year.
A number of research firms have recently weighed in on PE. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. BMO Capital Markets set a $40.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Friday, May 4th. Seaport Global Securities lowered shares of Parsley Energy from a “buy” rating to a “neutral” rating in a research note on Friday, May 4th. Morgan Stanley increased their price objective on shares of Parsley Energy from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, May 4th. Finally, Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.67.
In other Parsley Energy news, insider Mike Hinson sold 41,681 shares of the stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $31.95, for a total transaction of $1,331,707.95. Following the transaction, the insider now directly owns 422,626 shares of the company’s stock, valued at $13,502,900.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Colin Roberts sold 7,500 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $28.29, for a total transaction of $212,175.00. Following the transaction, the insider now directly owns 254,204 shares in the company, valued at $7,191,431.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,181 shares of company stock worth $1,859,783. Insiders own 13.17% of the company’s stock.
About Parsley Energy
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
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