Trexquant Investment LP Buys Shares of 56,897 Parsley Energy Inc (NYSE:PE)

Trexquant Investment LP bought a new position in Parsley Energy Inc (NYSE:PE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 56,897 shares of the oil and natural gas company’s stock, valued at approximately $1,098,000.

A number of other hedge funds also recently modified their holdings of the business. Daiwa Securities Group Inc. grew its stake in Parsley Energy by 7.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,250 shares of the oil and natural gas company’s stock worth $132,000 after acquiring an additional 600 shares in the last quarter. AGF Investments Inc. grew its stake in Parsley Energy by 0.5% in the 4th quarter. AGF Investments Inc. now owns 112,160 shares of the oil and natural gas company’s stock worth $1,792,000 after acquiring an additional 610 shares in the last quarter. Sapience Investments LLC grew its stake in Parsley Energy by 0.3% in the 1st quarter. Sapience Investments LLC now owns 209,050 shares of the oil and natural gas company’s stock worth $4,035,000 after acquiring an additional 670 shares in the last quarter. Advisor Group Inc. grew its stake in Parsley Energy by 15.0% in the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock worth $88,000 after acquiring an additional 719 shares in the last quarter. Finally, Comerica Bank grew its stake in Parsley Energy by 6.8% in the 1st quarter. Comerica Bank now owns 11,311 shares of the oil and natural gas company’s stock worth $210,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 83.23% of the company’s stock.

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Parsley Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Evercore ISI upgraded shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 target price on the stock in a research note on Monday, May 6th. TD Securities dropped their target price on shares of Parsley Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Finally, Williams Capital restated a “hold” rating and issued a $26.00 target price on shares of Parsley Energy in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Parsley Energy presently has a consensus rating of “Buy” and an average target price of $30.87.

In other news, Director Jerry Windlinger bought 1,985 shares of the stock in a transaction on Wednesday, June 5th. The stock was bought at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the completion of the purchase, the director now directly owns 33,382 shares in the company, valued at $584,185. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Colin Roberts sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $20.00, for a total transaction of $60,000.00. Following the completion of the sale, the insider now owns 271,926 shares of the company’s stock, valued at $5,438,520. The disclosure for this sale can be found here. 12.14% of the stock is owned by company insiders.

NYSE PE opened at $17.05 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43. Parsley Energy Inc has a 52-week low of $14.17 and a 52-week high of $33.25. The company has a market cap of $5.40 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.30 and a beta of 0.50.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The business had revenue of $427.67 million for the quarter, compared to the consensus estimate of $410.04 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. Parsley Energy’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts predict that Parsley Energy Inc will post 1.58 earnings per share for the current year.

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About Parsley Energy

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

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