Quantamental Technologies LLC Invests $53,000 in Parsley Energy Inc (NYSE:PE)
Quantamental Technologies LLC acquired a new position in shares of Parsley Energy Inc (NYSE:PE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,804 shares of the oil and natural gas company’s stock, valued at approximately $53,000.
Several other hedge funds also recently made changes to their positions in PE. Wedge Capital Management L L P NC acquired a new stake in shares of Parsley Energy during the 2nd quarter worth approximately $15,100,000. FMR LLC grew its position in Parsley Energy by 7.2% in the 1st quarter. FMR LLC now owns 8,483,510 shares of the oil and natural gas company’s stock valued at $163,731,000 after purchasing an additional 571,136 shares during the period. Monarch Partners Asset Management LLC acquired a new stake in Parsley Energy in the 1st quarter valued at $8,861,000. Geode Capital Management LLC grew its position in Parsley Energy by 19.3% in the 4th quarter. Geode Capital Management LLC now owns 2,736,590 shares of the oil and natural gas company’s stock valued at $43,703,000 after purchasing an additional 443,379 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new stake in Parsley Energy in the 2nd quarter valued at $8,030,000. 82.72% of the stock is owned by institutional investors.
Several research firms recently issued reports on PE. ValuEngine raised shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. MKM Partners started coverage on shares of Parsley Energy in a research report on Tuesday, August 27th. They issued a “buy” rating and a $26.00 price target for the company. Morgan Stanley set a $21.00 price objective on shares of Parsley Energy and gave the stock a “hold” rating in a report on Monday, June 24th. Robert W. Baird set a $22.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Cowen set a $24.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $28.60.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The firm had revenue of $198.50 million for the quarter, compared to analyst estimates of $467.53 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was down 57.6% compared to the same quarter last year. Analysts predict that Parsley Energy Inc will post 1.38 EPS for the current fiscal year.
The company also recently declared a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, September 19th.
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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