Zacks: Brokerages Expect Parsley Energy, Inc. (PE) Will Post Earnings of $0.12 Per Share
Wall Street analysts expect Parsley Energy, Inc. (NYSE:PE) to report earnings per share (EPS) of $0.12 for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Parsley Energy’s earnings, with estimates ranging from $0.07 to $0.16. Parsley Energy posted earnings per share of $0.04 in the same quarter last year, which would indicate a positive year over year growth rate of 200%. The company is scheduled to report its next earnings results on Wednesday, August 2nd.
On average, analysts expect that Parsley Energy will report full-year earnings of $0.67 per share for the current year, with EPS estimates ranging from $0.45 to $0.86. For the next financial year, analysts forecast that the firm will report earnings of $1.24 per share, with EPS estimates ranging from $0.61 to $2.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last announced its earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $181.23 million. Parsley Energy had a positive return on equity of 2.04% and a negative net margin of 4.26%. The company’s revenue was up 222.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share.
A number of brokerages recently commented on PE. Scotiabank set a $43.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Saturday, May 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 price target on shares of Parsley Energy in a research report on Friday, June 16th. FBR & Co decreased their price target on Parsley Energy from $46.00 to $39.00 and set an “outperform” rating for the company in a research report on Tuesday, February 28th. Wolfe Research began coverage on Parsley Energy in a research report on Thursday, June 15th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $45.00 price target on shares of Parsley Energy in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.09.
In related news, insider Bryan Sheffield sold 1,687,500 shares of Parsley Energy stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $31.42, for a total transaction of $53,021,250.00. Following the completion of the sale, the insider now owns 12,059,224 shares of the company’s stock, valued at $378,900,818.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Colin Roberts sold 15,598 shares of Parsley Energy stock in a transaction on Friday, March 31st. The shares were sold at an average price of $32.10, for a total value of $500,695.80. Following the sale, the insider now directly owns 235,726 shares of the company’s stock, valued at approximately $7,566,804.60. The disclosure for this sale can be found here. Insiders have sold 1,739,498 shares of company stock valued at $54,689,426 in the last three months. 15.51% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Parsley Energy by 9.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,043 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 251 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Parsley Energy during the first quarter valued at about $133,000. Creative Planning raised its stake in shares of Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock valued at $147,000 after buying an additional 4,425 shares during the period. Fortaleza Asset Management Inc. raised its stake in shares of Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock valued at $148,000 after buying an additional 1,520 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after buying an additional 300 shares during the period. 91.42% of the stock is owned by institutional investors.
Shares of Parsley Energy (NYSE PE) traded down 0.15% during midday trading on Monday, reaching $27.13. The company’s stock had a trading volume of 3,088,162 shares. The company has a 50-day moving average price of $29.85 and a 200-day moving average price of $32.32. The firm’s market cap is $6.69 billion. Parsley Energy has a 12 month low of $24.12 and a 12 month high of $39.82.
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About Parsley Energy
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses 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 includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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