Principal Financial Group Inc. reduced its holdings in shares of Parsley Energy, Inc. (NYSE:PE) by 1.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 37,697 shares of the oil and natural gas company’s stock after selling 423 shares during the period. Principal Financial Group Inc.’s holdings in Parsley Energy were worth $1,046,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its holdings in shares of Parsley Energy by 6.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 300 shares during the period. American International Group Inc. increased its holdings in shares of Parsley Energy by 3.8% in the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after acquiring an additional 180 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Parsley Energy by 15.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after acquiring an additional 900 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in shares of Parsley Energy by 12.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 5,873 shares of the oil and natural gas company’s stock valued at $191,000 after acquiring an additional 659 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its holdings in shares of Parsley Energy by 14.1% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after acquiring an additional 735 shares during the period. 77.94% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on the company. BidaskClub downgraded Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Northland Securities set a $43.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Monday, August 21st. Barclays PLC cut their price target on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. Seaport Global Securities upgraded Parsley Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $32.00 in a report on Friday, August 11th. Finally, Citigroup Inc. set a $51.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Tuesday, August 15th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.87.

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Shares of Parsley Energy, Inc. (NYSE PE) opened at 26.90 on Wednesday. The firm has a market cap of $6.66 billion, a PE ratio of 150.28 and a beta of -0.05. The firm’s 50-day moving average price is $25.67 and its 200-day moving average price is $28.14. Parsley Energy, Inc. has a 12 month low of $22.98 and a 12 month high of $39.82.

Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The business had revenue of $213.68 million for the quarter, compared to analyst estimates of $216.54 million. During the same quarter last year, the company posted $0.04 EPS. Parsley Energy’s quarterly revenue was up 99.9% on a year-over-year basis. Analysts expect that Parsley Energy, Inc. will post $0.49 earnings per share for the current year.

Parsley Energy Company Profile

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.

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

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