Cramer Rosenthal Mcglynn LLC Invests $16.92 Million in Parsley Energy Inc (PE) Stock
Cramer Rosenthal Mcglynn LLC bought a new position in Parsley Energy Inc (NYSE:PE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 574,665 shares of the oil and natural gas company’s stock, valued at approximately $16,918,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of PE. Assetmark Inc. lifted its position in Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock valued at $105,000 after purchasing an additional 2,864 shares during the last quarter. Cerebellum GP LLC bought a new stake in Parsley Energy in the fourth quarter valued at approximately $128,000. American International Group Inc. bought a new stake in Parsley Energy in the fourth quarter valued at approximately $155,000. Trexquant Investment LP bought a new stake in Parsley Energy in the third quarter valued at approximately $206,000. Finally, IFM Investors Pty Ltd bought a new stake in Parsley Energy in the third quarter valued at approximately $209,000. 82.60% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ron Brokmeyer purchased 2,000 shares of Parsley Energy stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $25.66 per share, with a total value of $51,320.00. Following the completion of the purchase, the director now directly owns 112,128 shares in the company, valued at $2,877,204.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bryan Sheffield bought 189,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $26.34 per share, for a total transaction of $4,991,430.00. Following the completion of the purchase, the insider now owns 11,533,063 shares of the company’s stock, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. 15.51% of the stock is owned by corporate insiders.
Shares of Parsley Energy Inc (PE) opened at $26.82 on Wednesday. The firm has a market capitalization of $8,480.31, a price-to-earnings ratio of 43.18, a P/E/G ratio of 1.28 and a beta of -0.39. Parsley Energy Inc has a 12 month low of $21.12 and a 12 month high of $33.07. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.37.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The company had revenue of $311.49 million for the quarter, compared to analysts’ expectations of $298.04 million. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The firm’s revenue for the quarter was up 99.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. analysts predict that Parsley Energy Inc will post 1.16 EPS for the current year.
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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.
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