Pictet Asset Management Ltd. Purchases 14,900 Shares of Parsley Energy Inc (NYSE:PE)

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Pictet Asset Management Ltd. boosted its position in Parsley Energy Inc (NYSE:PE) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,917 shares of the oil and natural gas company’s stock after acquiring an additional 14,900 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Parsley Energy were worth $1,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PE. Geode Capital Management LLC boosted its position in Parsley Energy by 19.3% during the fourth 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 buying an additional 443,379 shares during the period. Janus Henderson Group PLC boosted its position in Parsley Energy by 6.6% during the first quarter. Janus Henderson Group PLC now owns 31,420 shares of the oil and natural gas company’s stock valued at $607,000 after buying an additional 1,954 shares during the period. Comerica Bank boosted its position in Parsley Energy by 6.8% during the first quarter. Comerica Bank now owns 11,311 shares of the oil and natural gas company’s stock valued at $210,000 after buying an additional 720 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in Parsley Energy by 4.5% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,007 shares of the oil and natural gas company’s stock valued at $425,000 after buying an additional 954 shares during the period. Finally, Cetera Advisor Networks LLC purchased a new stake in Parsley Energy during the first quarter valued at about $271,000. Institutional investors and hedge funds own 82.62% of the company’s stock.

Shares of Parsley Energy stock traded down $0.23 during trading on Thursday, reaching $18.75. 68,000 shares of the stock were exchanged, compared to its average volume of 4,065,140. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $16.83 and its 200 day moving average is $18.19. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.40 and a beta of 0.49. Parsley Energy Inc has a 1 year low of $13.72 and a 1 year high of $31.05.

Parsley Energy (NYSE:PE) last posted its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $198.50 million during the quarter, compared to analyst estimates of $467.53 million. During the same period in the prior year, the business posted $0.39 earnings per share. Parsley Energy’s revenue for the quarter was down 57.6% on a year-over-year basis. Equities analysts forecast that Parsley Energy Inc will post 1.38 earnings per share for the current year.

The business also recently disclosed a — dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a $0.03 dividend. The ex-dividend date is Thursday, September 19th.

Several analysts have issued reports on the stock. Wells Fargo & Co upped their price target on shares of Parsley Energy from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Morgan Stanley set a $21.00 price target on shares of Parsley Energy and gave the company a “hold” rating in a research report on Monday, June 24th. Robert W. Baird set a $22.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a research report on Thursday, June 27th. Bank of America upped their price target on shares of Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, ValuEngine upgraded shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Parsley Energy currently has a consensus rating of “Buy” and a consensus price target of $28.84.

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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Institutional Ownership by Quarter for Parsley Energy (NYSE:PE)

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