Parsley Energy Inc (NYSE:PE) Stock Position Boosted by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in Parsley Energy Inc (NYSE:PE) by 49.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,845 shares of the oil and natural gas company’s stock after buying an additional 22,433 shares during the period. Toronto Dominion Bank’s holdings in Parsley Energy were worth $1,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in Parsley Energy in the 2nd quarter valued at about $53,000. Nisa Investment Advisors LLC bought a new position in Parsley Energy in the 2nd quarter valued at about $76,000. Machina Capital S.A.S. bought a new position in Parsley Energy in the 2nd quarter valued at about $86,000. Pearl River Capital LLC bought a new position in Parsley Energy in the 2nd quarter valued at about $101,000. Finally, Seeyond grew its position in Parsley Energy by 24.6% in the 2nd quarter. Seeyond now owns 6,229 shares of the oil and natural gas company’s stock valued at $118,000 after buying an additional 1,229 shares in the last quarter. Hedge funds and other institutional investors own 82.62% of the company’s stock.

PE stock traded down $0.38 during mid-day trading on Wednesday, reaching $18.90. 115,188 shares of the stock traded hands, compared to its average volume of 3,735,928. The stock’s fifty day moving average is $16.77 and its 200-day moving average is $18.19. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.36. The company has a market cap of $5.86 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.37 and a beta of 0.48. Parsley Energy Inc has a 52-week low of $13.72 and a 52-week high of $31.05.

Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $467.53 million. Parsley Energy had a net margin of 13.69% and a return on equity of 5.72%. The firm’s revenue was down 57.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities research analysts expect that Parsley Energy Inc will post 1.38 earnings per share for the current year.

The business also recently declared a — dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a $0.03 dividend. The ex-dividend date is Thursday, September 19th.

Several equities analysts have recently weighed in on the stock. Mizuho upgraded shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday. SunTrust Banks set a $23.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, September 10th. Morgan Stanley set a $21.00 price objective on shares of Parsley Energy and gave the company a “hold” rating in a research report on Monday, June 24th. Robert W. Baird set a $22.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, ValuEngine upgraded shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.84.

Parsley Energy Company 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.

Further Reading: Front-End Load

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

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