State Street Corp grew its position in shares of Parsley Energy, Inc. (NYSE:PE) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,327,728 shares of the oil and natural gas company’s stock after acquiring an additional 493,511 shares during the quarter. State Street Corp owned about 2.56% of Parsley Energy worth $175,601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd increased its holdings in shares of Parsley Energy by 1.5% during the first quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock valued at $325,000 after acquiring an additional 143 shares in the last quarter. American International Group Inc. increased its holdings in shares of Parsley Energy by 3.8% during the first 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 in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Parsley Energy by 6.8% during the first 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 in the last quarter. Atria Investments LLC increased its holdings in shares of Parsley Energy by 3.2% during the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after acquiring an additional 315 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Parsley Energy by 5.5% during the first quarter. Prudential Financial Inc. now owns 10,970 shares of the oil and natural gas company’s stock valued at $357,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.

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Parsley Energy, Inc. (NYSE PE) opened at 26.60 on Thursday. The stock has a market cap of $6.59 billion, a PE ratio of 148.60 and a beta of -0.05. The firm has a 50-day moving average price of $25.97 and a 200 day moving average price of $27.94. Parsley Energy, Inc. has a 52-week low of $22.98 and a 52-week high of $39.82.

Parsley Energy (NYSE:PE) last posted its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). The business had revenue of $213.68 million during the quarter, compared to the consensus estimate of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. On average, analysts forecast that Parsley Energy, Inc. will post $0.48 earnings per share for the current fiscal year.

Several research firms have recently commented on PE. BidaskClub downgraded Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded Parsley Energy from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Seaport Global Securities downgraded Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a report on Monday, July 17th. Northland Securities set a $43.00 price objective on Parsley Energy and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Stifel Nicolaus restated a “buy” rating and set a $39.00 price objective on shares of Parsley Energy in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $40.73.

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.

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

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