Analysts Offer Predictions for Parsley Energy Inc’s Q1 2020 Earnings (PE)

Parsley Energy Inc (NYSE:PE) – Piper Jaffray Companies issued their Q1 2020 earnings per share estimates for shares of Parsley Energy in a research report issued to clients and investors on Tuesday, August 14th. Piper Jaffray Companies analyst K. Harrison forecasts that the oil and natural gas company will post earnings of $0.71 per share for the quarter. Piper Jaffray Companies currently has a “Buy” rating and a $47.00 target price on the stock. Piper Jaffray Companies also issued estimates for Parsley Energy’s FY2020 earnings at $2.91 EPS.

Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of Parsley Energy from a “c+” rating to a “b” rating in a report on Thursday, May 3rd. Seaport Global Securities upgraded shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Wednesday, May 23rd. SunTrust Banks set a $45.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Monday, May 7th. Jefferies Financial Group restated a “buy” rating and issued a $38.00 target price on shares of Parsley Energy in a report on Thursday, April 26th. Finally, BMO Capital Markets set a $40.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Friday, May 4th. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.64.

PE opened at $27.93 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. Parsley Energy has a fifty-two week low of $21.12 and a fifty-two week high of $33.43. The stock has a market capitalization of $9.59 billion, a P/E ratio of 40.48 and a beta of -0.48.

Parsley Energy (NYSE:PE) last posted its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). Parsley Energy had a return on equity of 5.25% and a net margin of 16.89%. The business had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Parsley Energy by 18.7% during the 2nd quarter. BlackRock Inc. now owns 13,439,196 shares of the oil and natural gas company’s stock valued at $406,938,000 after acquiring an additional 2,112,853 shares during the period. JPMorgan Chase & Co. grew its position in shares of Parsley Energy by 96.8% during the 1st quarter. JPMorgan Chase & Co. now owns 9,608,948 shares of the oil and natural gas company’s stock valued at $278,563,000 after acquiring an additional 4,726,116 shares during the period. Bank of New York Mellon Corp grew its position in shares of Parsley Energy by 20.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock valued at $208,786,000 after acquiring an additional 1,156,137 shares during the period. Van ECK Associates Corp grew its position in shares of Parsley Energy by 2.0% during the 2nd quarter. Van ECK Associates Corp now owns 6,036,579 shares of the oil and natural gas company’s stock valued at $182,788,000 after acquiring an additional 116,093 shares during the period. Finally, Millennium Management LLC grew its position in shares of Parsley Energy by 37.7% during the 2nd quarter. Millennium Management LLC now owns 5,783,131 shares of the oil and natural gas company’s stock valued at $175,113,000 after acquiring an additional 1,583,137 shares during the period. 83.90% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Colin Roberts sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $30.21, for a total transaction of $302,100.00. Following the completion of the transaction, the insider now directly owns 224,600 shares of the company’s stock, valued at approximately $6,785,166. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mike Hinson sold 250,000 shares of the stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $30.24, for a total transaction of $7,560,000.00. Following the transaction, the insider now directly owns 663,978 shares of the company’s stock, valued at $20,078,694.72. The disclosure for this sale can be found here. Corporate insiders own 13.17% of the company’s stock.

About Parsley Energy

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.

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Earnings History and Estimates for Parsley Energy (NYSE:PE)

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