Zacks: Analysts Expect Parsley Energy Inc (PE) to Announce $0.47 Earnings Per Share

Wall Street brokerages forecast that Parsley Energy Inc (NYSE:PE) will report earnings per share of $0.47 for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Parsley Energy’s earnings. The highest EPS estimate is $0.63 and the lowest is $0.30. Parsley Energy posted earnings per share of $0.30 in the same quarter last year, which would indicate a positive year over year growth rate of 56.7%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Parsley Energy will report full-year earnings of $1.60 per share for the current financial year, with EPS estimates ranging from $1.14 to $1.79. For the next financial year, analysts forecast that the business will post earnings of $2.45 per share, with EPS estimates ranging from $1.40 to $5.93. Zacks’ EPS calculations are an average based on a survey of research firms that follow Parsley Energy.

Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $493.44 million. Parsley Energy had a net margin of 21.70% and a return on equity of 6.77%. The company’s quarterly revenue was up 112.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share.

A number of equities research analysts recently issued reports on the stock. Ifs Securities assumed coverage on shares of Parsley Energy in a report on Monday, October 29th. They issued a “strong-buy” rating for the company. KLR Group restated a “buy” rating and issued a $43.00 target price on shares of Parsley Energy in a report on Monday, August 20th. Macquarie upgraded shares of Parsley Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $31.00 to $33.00 in a report on Monday, November 5th. Jefferies Financial Group boosted their target price on shares of Parsley Energy from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Finally, Williams Capital set a $38.00 target price on shares of Parsley Energy and gave the company a “hold” rating in a report on Friday, November 2nd. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $38.32.

In other news, insider Bryan Sheffield sold 2,500,000 shares of the business’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $28.15, for a total transaction of $70,375,000.00. Following the transaction, the insider now directly owns 9,033,063 shares of the company’s stock, valued at $254,280,723.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hemang Desai bought 1,000 shares of Parsley Energy stock in a transaction dated Tuesday, September 4th. The shares were purchased at an average cost of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the transaction, the director now owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The disclosure for this purchase can be found here. 13.17% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. IFM Investors Pty Ltd lifted its position in shares of Parsley Energy by 15.8% during the third quarter. IFM Investors Pty Ltd now owns 13,954 shares of the oil and natural gas company’s stock worth $408,000 after purchasing an additional 1,907 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Parsley Energy by 15.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,006 shares of the oil and natural gas company’s stock worth $468,000 after purchasing an additional 2,198 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Parsley Energy by 8.6% during the third quarter. DNB Asset Management AS now owns 27,791 shares of the oil and natural gas company’s stock worth $813,000 after purchasing an additional 2,200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Parsley Energy by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,667 shares of the oil and natural gas company’s stock worth $1,322,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Parsley Energy by 17.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 16,273 shares of the oil and natural gas company’s stock worth $493,000 after purchasing an additional 2,426 shares in the last quarter. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE PE traded down $1.08 during midday trading on Friday, reaching $20.66. 2,085,491 shares of the stock were exchanged, compared to its average volume of 6,317,149. The company has a market cap of $6.89 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 0.46 and a beta of -0.13. Parsley Energy has a 52-week low of $20.44 and a 52-week high of $33.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.70 and a quick ratio of 0.70.

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.

Featured Article: Average Daily Trade Volume – ADTV

Get a free copy of the Zacks research report on Parsley Energy (PE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Parsley Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parsley Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply