Waratah Capital Advisors Ltd. Increases Holdings in Parsley Energy Inc (NYSE:PE)
Waratah Capital Advisors Ltd. grew its holdings in Parsley Energy Inc (NYSE:PE) by 114.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 558,856 shares of the oil and natural gas company’s stock after acquiring an additional 298,298 shares during the quarter. Waratah Capital Advisors Ltd. owned about 0.18% of Parsley Energy worth $9,389,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. River & Mercantile Asset Management LLP purchased a new position in shares of Parsley Energy in the 2nd quarter valued at $29,000. Quadrant Capital Group LLC boosted its position in shares of Parsley Energy by 214.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,175 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 1,484 shares in the last quarter. First Quadrant L P CA acquired a new stake in shares of Parsley Energy during the 3rd quarter worth approximately $42,000. Quantamental Technologies LLC bought a new position in Parsley Energy in the second quarter valued at approximately $53,000. Finally, Nisa Investment Advisors LLC bought a new position in Parsley Energy in the second quarter valued at approximately $76,000. Institutional investors and hedge funds own 79.24% of the company’s stock.
In other Parsley Energy news, Director Ron Brokmeyer purchased 5,000 shares of Parsley Energy stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of $14.95 per share, for a total transaction of $74,750.00. Following the completion of the transaction, the director now owns 13,897 shares of the company’s stock, valued at approximately $207,760.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.14% of the company’s stock.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.05). The firm had revenue of $510.15 million for the quarter, compared to analysts’ expectations of $503.05 million. Parsley Energy had a net margin of 14.03% and a return on equity of 4.96%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. On average, analysts predict that Parsley Energy Inc will post 1.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Monday, December 9th. Parsley Energy’s dividend payout ratio (DPR) is presently 8.51%.
PE has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of Parsley Energy from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. ValuEngine downgraded Parsley Energy from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. TD Securities cut their price objective on Parsley Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Northland Securities reiterated a “buy” rating and issued a $23.00 target price on shares of Parsley Energy in a report on Wednesday, November 6th. Finally, Wells Fargo & Co increased their target price on shares of Parsley Energy from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.07.
Parsley Energy 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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