Brokerages Expect Parsley Energy Inc (PE) Will Post Earnings of $0.43 Per Share

Brokerages expect Parsley Energy Inc (NYSE:PE) to report $0.43 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Parsley Energy’s earnings, with estimates ranging from $0.32 to $0.55. Parsley Energy reported earnings per share of $0.12 during the same quarter last year, which would suggest a positive year over year growth rate of 258.3%. The firm is scheduled to announce its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Parsley Energy will report full year earnings of $1.56 per share for the current year, with EPS estimates ranging from $1.14 to $1.77. For the next year, analysts expect that the firm will post earnings of $2.36 per share, with EPS estimates ranging from $1.74 to $3.48. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Parsley Energy.

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

A number of analysts have recently commented on PE shares. Stifel Nicolaus set a $58.00 price target on Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Piper Jaffray Companies reissued a “buy” rating and issued a $47.00 price target on shares of Parsley Energy in a research report on Thursday, August 16th. KLR Group reissued a “buy” rating and issued a $43.00 price target on shares of Parsley Energy in a research report on Monday, August 20th. Zacks Investment Research cut Parsley Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Williams Capital set a $36.00 price target on Parsley Energy and gave the stock a “hold” rating in a research report on Monday, August 20th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $38.60.

Parsley Energy stock opened at $30.00 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.36. The company has a market cap of $9.27 billion, a price-to-earnings ratio of 43.48, a PEG ratio of 0.62 and a beta of -0.56. Parsley Energy has a fifty-two week low of $21.12 and a fifty-two week high of $33.43.

In other news, Director Hemang Desai acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was bought at an average cost of $27.32 per share, for a total transaction of $27,320.00. Following the acquisition, the director now directly owns 31,886 shares in the company, valued at $871,125.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mike Hinson sold 13,328 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $28.75, for a total transaction of $383,180.00. Following the completion of the transaction, the insider now owns 400,650 shares of the company’s stock, valued at $11,518,687.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,763,328 shares of company stock valued at $78,318,180. 13.17% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. increased its stake in shares of Parsley Energy by 38.1% in the 1st quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock worth $210,000 after purchasing an additional 2,000 shares in the last quarter. Northern Trust Corp increased its stake in shares of Parsley Energy by 1.1% in the 1st quarter. Northern Trust Corp now owns 1,290,927 shares of the oil and natural gas company’s stock worth $37,423,000 after purchasing an additional 14,295 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of Parsley Energy by 112.9% in the 1st quarter. Federated Investors Inc. PA now owns 74,500 shares of the oil and natural gas company’s stock worth $2,160,000 after purchasing an additional 39,500 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Parsley Energy by 17.2% in the 1st quarter. Toronto Dominion Bank now owns 15,400 shares of the oil and natural gas company’s stock worth $446,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of Parsley Energy by 44.6% in the 1st quarter. Natixis Advisors L.P. now owns 51,355 shares of the oil and natural gas company’s stock worth $1,489,000 after purchasing an additional 15,849 shares in the last quarter. Institutional investors and hedge funds own 84.58% of the company’s stock.

Parsley Energy Company Profile

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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