Three Peaks Capital Management LLC Has $1.61 Million Stake in Parsley Energy, Inc. (PE)
Three Peaks Capital Management LLC cut its stake in Parsley Energy, Inc. (NYSE:PE) by 2.2% during the second quarter, Holdings Channel reports. The institutional investor owned 57,895 shares of the oil and natural gas company’s stock after selling 1,280 shares during the period. Three Peaks Capital Management LLC’s holdings in Parsley Energy were worth $1,607,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in PE. Russell Investments Group Ltd. raised its stake in Parsley Energy by 59.6% in the first quarter. Russell Investments Group Ltd. now owns 701,165 shares of the oil and natural gas company’s stock valued at $22,796,000 after buying an additional 261,743 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Parsley Energy during the first quarter valued at about $133,000. Shell Asset Management Co. increased its position in Parsley Energy by 18.8% in the first quarter. Shell Asset Management Co. now owns 13,425 shares of the oil and natural gas company’s stock valued at $436,000 after buying an additional 2,125 shares during the last quarter. ProShare Advisors LLC increased its position in Parsley Energy by 52.2% in the first quarter. ProShare Advisors LLC now owns 19,869 shares of the oil and natural gas company’s stock valued at $646,000 after buying an additional 6,814 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Parsley Energy by 27.0% in the first quarter. Profund Advisors LLC now owns 10,079 shares of the oil and natural gas company’s stock valued at $328,000 after buying an additional 2,140 shares during the last quarter. 91.86% of the stock is owned by institutional investors.
Shares of Parsley Energy, Inc. (NYSE:PE) opened at 24.79 on Friday. The company has a 50-day moving average price of $27.25 and a 200-day moving average price of $29.74. Parsley Energy, Inc. has a 12 month low of $24.25 and a 12 month high of $39.82. The company has a market capitalization of $6.14 billion, a P/E ratio of 138.49 and a beta of -0.09.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.06. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was up 99.9% on a year-over-year basis. On average, analysts forecast that Parsley Energy, Inc. will post $0.51 EPS for the current fiscal year.
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Several research firms have weighed in on PE. Northland Securities set a $43.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets set a $40.00 price target on Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, May 4th. UBS AG restated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. Barclays PLC dropped their price target on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Parsley Energy has an average rating of “Buy” and a consensus target price of $40.65.
In other news, insider Colin Roberts sold 3,400 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $30.00, for a total value of $102,000.00. Following the transaction, the insider now owns 229,326 shares of the company’s stock, valued at approximately $6,879,780. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.51% of the company’s stock.
About Parsley Energy
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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