Ben Gambill increased its stake in Parsley Energy Inc (PE) by 62.5% based on its latest 2016Q3 regulatory filing with the SEC. Tiger Eye Capital Llc bought 414,146 shares as the company’s stock rose 23.38% with the market. The hedge fund run by Ben Gambill held 1.08M shares of the energy company at the end of 2016Q3, valued at $36.08 million, up from 662,602 at the end of the previous reported quarter. Tiger Eye Capital Llc who had been investing in Parsley Energy Inc for a number of months, seems to be bullish on the $7.44 billion market cap company. The stock increased 2.54% or $0.91 during the last trading session, hitting $36.67. About 30,800 shares traded hands. Parsley Energy Inc (NYSE:PE) has risen 34.82% since June 7, 2016 and is uptrending. It has outperformed by 27.39% the S&P500.
Tiger Eye Capital Llc, which manages about $1.45B and $808.23M US Long portfolio, decreased its stake in Transdigm Group Inc (NYSE:TDG) by 17,381 shares to 124,472 shares, valued at $35.99M in 2016Q3, according to the filing. It also reduced its holding in Intercontinental Exchange In (NYSE:ICE) by 19,031 shares in the quarter, leaving it with 66,732 shares, and cut its stake in Cdk Global Inc (NASDAQ:CDK).
In April of 2009, Tiger Eye Capital was founded by Benjamin Gambill. The hedge fund had been seeded by Julian Robertson. Tiger Eye Capital makes investments in various industries such as technology-media-telecom (TMT), financials, natural resources, real estate and industrials. Tiger Eye Capital in January of 2011 had an annual return of 13.3%. It’s most terrible year was 2011 where it obtained a return of only 5.4%. Tiger Eye Capital in 2012 had a net return of 17.4%. These numbers are combined of Tiger Eye Master Fund and Tiger Eye Partners. Tiger Eye Capital Llc is a New York-based hedge fund that was founded by Ben Gambill. It had more than $1.45 billion assets under management in December, 2014. Taken from Tiger Eye Capital latest Adv, the fund reported to have 9 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.
Insitutional Activity: The institutional sentiment decreased to 1.38 in Q3 2016. Its down 0.68, from 2.06 in 2016Q2. The ratio fall, as 36 funds sold all PE shares owned while 84 reduced positions. 72 funds bought stakes while 93 increased positions. They now own 160.81 million shares or 8.38% more from 148.38 million shares in 2016Q2. Blackrock Group Inc holds 670,893 shares or 0.01% of its portfolio. Ardsley Advisory reported 285,000 shares or 1.51% of all its holdings. The Minnesota-based Walleye Trading Limited Liability has invested 0% in Parsley Energy Inc (NYSE:PE). Waddell & Reed holds 1.92M shares or 0.13% of its portfolio. Cqs Cayman Lp, a Cayman Islands-based fund reported 25,000 shares. Agf Invs Inc accumulated 20,334 shares or 0.01% of the stock. Ngam Advisors LP reported 19,012 shares or 0.01% of all its holdings. Tiaa Cref Investment Mngmt Llc owns 6.35M shares or 0.13% of their US portfolio. Parallax Volatility Advisers Limited Partnership accumulated 20,654 shares or 0% of the stock. Federated Investors Incorporated Pa holds 0% of its portfolio in Parsley Energy Inc (NYSE:PE) for 6,797 shares. Glenmede Trust Na holds 0.2% or 1.22M shares in its portfolio. Envestnet Asset Mngmt accumulated 4,915 shares or 0% of the stock. Brown Advisory Inc has 6,492 shares for 0% of their US portfolio. Moreover, Hutchin Hill Capital LP has 0.61% invested in Parsley Energy Inc (NYSE:PE) for 889,000 shares. Blackrock Institutional Na owns 3.87 million shares or 0.02% of their US portfolio.
Insider Transactions: Since July 12, 2016, the stock had 1 buy, and 18 sales for $59.37 million net activity. On Thursday, November 17 the insider Dalton Ryan sold $699,533. On Monday, August 8 Roberts Colin sold $819,250 worth of the stock or 25,000 shares. $901,250 worth of Parsley Energy Inc (NYSE:PE) shares were sold by Hinson Mike. Another trade for 312,500 shares valued at $10.90M was sold by Sheffield Bryan. Gallagher Matthew also sold $1.52 million worth of Parsley Energy Inc (NYSE:PE) shares. Smith David Henry also sold $206,188 worth of Parsley Energy Inc (NYSE:PE) on Monday, August 8. ALAMEDDINE A R bought $278,000 worth of Parsley Energy Inc (NYSE:PE) on Thursday, November 17.
More notable recent Parsley Energy Inc (NYSE:PE) news were published by: Prnewswire.com which released: “Parsley Energy Announces Public Offering of Class A Common Stock” on January 10, 2017, also Rttnews.com with their article: “Parsley Energy Inc. (PE) Is Heading Lower After Offering Announcement” published on January 10, 2017, Finance.Yahoo.com published: “Parsley Energy expands in Permian with $607 mln acquisitions” on January 10, 2017. More interesting news about Parsley Energy Inc (NYSE:PE) were released by: Prnewswire.com and their article: “Parsley Energy Appoints Jerry Windlinger to its Board of Directors” published on December 21, 2016 as well as Prnewswire.com‘s news article titled: “Parsley Energy Updates Management Team Structure and Expands Management Team” with publication date: January 05, 2017.
According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.”
Parsley Energy Inc (NYSE:PE) Ratings Coverage
Out of 29 analysts covering Parsley Energy Inc (NYSE:PE), 24 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 83% are positive. $48 is the highest target while $16 is the lowest. The $30.32 average target is -17.32% below today’s ($36.67) stock price. Parsley Energy Inc has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Imperial Capital with “Outperform” on Friday, August 5. RBC Capital Markets maintained the shares of PE in a report on Friday, November 6 with “Sector Perform” rating. As per Thursday, August 4, the company rating was maintained by UBS. The stock has “Overweight” rating given by KeyBanc Capital Markets on Monday, August 22. On Friday, October 2 the stock rating was initiated by Evercore with “Buy”. Deutsche Bank maintained the stock with “Buy” rating in Tuesday, June 14 report. The stock has “Neutral” rating given by Macquarie Research on Wednesday, October 12. The rating was maintained by Northland Capital on Friday, November 6 with “Outperform”. The firm has “Overweight” rating by Barclays Capital given on Tuesday, June 21. The firm has “Overweight” rating by JP Morgan given on Tuesday, March 15.
PE Company Profile
Parsley Energy, Inc., incorporated on December 11, 2013, is an independent oil and natural gas company. The Firm is focused 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 comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company’s properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Company’s vertical wells in the Permian Basin are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations.
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