Renaissance Technologies LLC acquired a new position in shares of Parsley Energy Inc (NYSE:PE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 902,500 shares of the oil and natural gas company’s stock, valued at approximately $27,328,000. Renaissance Technologies LLC owned approximately 0.28% of Parsley Energy as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PE. Xact Kapitalforvaltning AB boosted its stake in shares of Parsley Energy by 7.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 24,792 shares of the oil and natural gas company’s stock valued at $719,000 after purchasing an additional 1,797 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Parsley Energy by 4.2% in the 1st quarter. Amalgamated Bank now owns 48,173 shares of the oil and natural gas company’s stock valued at $1,397,000 after purchasing an additional 1,950 shares in the last quarter. American International Group Inc. boosted its stake in shares of Parsley Energy by 38.1% in the 1st quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock valued at $210,000 after purchasing an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Parsley Energy by 21.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 11,923 shares of the oil and natural gas company’s stock valued at $345,000 after purchasing an additional 2,124 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Parsley Energy by 7.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 31,421 shares of the oil and natural gas company’s stock valued at $911,000 after purchasing an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 84.58% of the company’s stock.

PE has been the topic of a number of research analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $49.00 price target on shares of Parsley Energy in a research note on Friday, July 20th. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Wednesday, July 11th. JPMorgan Chase & Co. set a $49.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a report on Tuesday, July 3rd. TD Securities initiated coverage on shares of Parsley Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Stifel Nicolaus set a $58.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a report on Wednesday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.60.

Parsley Energy stock traded up $0.46 during mid-day trading on Friday, hitting $29.00. 4,057,289 shares of the stock were exchanged, compared to its average volume of 5,353,040. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.93 and a current ratio of 0.93. Parsley Energy Inc has a 12 month low of $21.12 and a 12 month high of $33.43. The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 0.62 and a beta of -0.56.

Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. The firm had revenue of $467.79 million for the quarter, compared to the consensus estimate of $431.02 million. As a group, equities research analysts predict that Parsley Energy Inc will post 1.56 EPS for the current fiscal year.

In other news, insider Mike Hinson sold 250,000 shares of Parsley Energy stock in a transaction on Friday, August 10th. The shares were sold at an average price of $30.24, for a total value of $7,560,000.00. Following the completion of the sale, the insider now owns 663,978 shares in the company, valued at approximately $20,078,694.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hemang Desai acquired 1,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was bought at an average price of $27.32 per share, with a total value of $27,320.00. Following the purchase, the director now directly owns 31,886 shares in the company, valued at $871,125.52. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 2,763,328 shares of company stock valued at $78,318,180. Company insiders own 13.17% of the company’s stock.

Parsley Energy Company Profile

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

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