Brokerages Anticipate Parsley Energy Inc (NYSE:PE) to Post $0.16 EPS

Wall Street brokerages predict that Parsley Energy Inc (NYSE:PE) will post earnings per share (EPS) of $0.16 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Parsley Energy’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at $0.36. Parsley Energy reported earnings per share of $0.29 in the same quarter last year, which suggests a negative year over year growth rate of 44.8%. The company is expected to issue its next quarterly earnings results on Tuesday, November 3rd.

On average, analysts expect that Parsley Energy will report full year earnings of $0.62 per share for the current year, with EPS estimates ranging from $0.22 to $1.11. For the next financial year, analysts anticipate that the firm will post earnings of $0.96 per share, with EPS estimates ranging from $0.18 to $2.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Parsley Energy.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, August 5th. The oil and natural gas company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.17. Parsley Energy had a positive return on equity of 5.13% and a negative net margin of 200.23%. The firm had revenue of $220.21 million during the quarter, compared to the consensus estimate of $327.18 million.

Several research firms recently weighed in on PE. TD Securities raised their price objective on Parsley Energy from $14.50 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Cowen raised their price target on Parsley Energy from $15.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. UBS Group raised their price target on Parsley Energy from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Raymond James raised Parsley Energy from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $12.00 to $16.00 in a research report on Monday, July 20th. Finally, Piper Sandler raised Parsley Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $17.00 in a research report on Tuesday, July 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $15.35.

NYSE PE traded up $0.59 during mid-day trading on Wednesday, hitting $10.16. The stock had a trading volume of 583,336 shares, compared to its average volume of 9,633,600. Parsley Energy has a 52-week low of $3.92 and a 52-week high of $20.80. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -1.03, a P/E/G ratio of 0.41 and a beta of 2.25. The company has a 50 day simple moving average of $10.98 and a 200 day simple moving average of $9.68. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.76.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, September 4th. Parsley Energy’s payout ratio is currently 17.86%.

In related news, insider Bryan Sheffield sold 300,000 shares of Parsley Energy stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $11.46, for a total value of $3,438,000.00. Following the transaction, the insider now owns 9,310,686 shares in the company, valued at $106,700,461.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Colin Roberts sold 30,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $11.14, for a total value of $334,200.00. Following the transaction, the insider now owns 279,487 shares in the company, valued at approximately $3,113,485.18. The disclosure for this sale can be found here. Insiders sold 630,000 shares of company stock worth $7,408,200 in the last quarter. 19.42% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of PE. Marshall Wace LLP acquired a new position in shares of Parsley Energy during the first quarter worth about $134,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Parsley Energy by 162.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 320,494 shares of the oil and natural gas company’s stock worth $6,185,000 after purchasing an additional 198,445 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Parsley Energy during the first quarter worth about $63,000. CIBC Asset Management Inc lifted its stake in shares of Parsley Energy by 38.3% during the first quarter. CIBC Asset Management Inc now owns 14,395 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 3,985 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Parsley Energy by 57.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 48,346 shares of the oil and natural gas company’s stock worth $277,000 after purchasing an additional 17,544 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

Parsley Energy Company Profile

Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, 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.

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

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