SunTrust Banks Weighs in on Parsley Energy, Inc.’s Q3 2017 Earnings (PE)
Parsley Energy, Inc. (NYSE:PE) – Research analysts at SunTrust Banks upped their Q3 2017 EPS estimates for shares of Parsley Energy in a note issued to investors on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings of $0.18 per share for the quarter, up from their previous forecast of $0.17. SunTrust Banks also issued estimates for Parsley Energy’s FY2019 earnings at $2.48 EPS.
A number of other analysts also recently weighed in on the stock. BidaskClub raised shares of Parsley Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Scotiabank set a $38.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $35.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research report on Monday, June 26th. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 target price on shares of Parsley Energy in a research report on Friday, June 16th. Finally, Wolfe Research assumed coverage on shares of Parsley Energy in a research report on Thursday, June 15th. They set an “outperform” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $40.65.
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Shares of Parsley Energy (NYSE:PE) opened at 26.87 on Friday. The stock’s 50 day moving average is $29.06 and its 200 day moving average is $31.90. Parsley Energy has a 12 month low of $25.17 and a 12 month high of $39.82. The firm’s market cap is $6.62 billion.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. Parsley Energy had a negative net margin of 4.26% and a positive return on equity of 2.04%. The company had revenue of $200.90 million during the quarter, compared to analysts’ expectations of $181.23 million. During the same quarter in the previous year, the company earned ($0.02) EPS. Parsley Energy’s revenue was up 222.5% on a year-over-year basis.
In other Parsley Energy news, Director A R. Alameddine bought 3,500 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $31.65 per share, for a total transaction of $110,775.00. Following the purchase, the director now directly owns 94,888 shares of the company’s stock, valued at approximately $3,003,205.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Colin Roberts sold 3,400 shares of Parsley Energy stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $30.00, for a total value of $102,000.00. Following the sale, the insider now owns 229,326 shares in the company, valued at $6,879,780. The disclosure for this sale can be found here. Insiders have sold a total of 1,723,900 shares of company stock worth $54,188,730 over the last quarter. Company insiders own 15.51% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd boosted its stake in Parsley Energy by 1.5% in the first quarter. BlueCrest Capital Management Ltd now owns 10,000 shares of the oil and natural gas company’s stock worth $325,000 after buying an additional 143 shares during the last quarter. American International Group Inc. boosted its stake in Parsley Energy by 3.8% in the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock worth $158,000 after buying an additional 180 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in 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 worth $107,000 after buying an additional 251 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in 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 worth $153,000 after buying an additional 300 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Parsley Energy by 2.6% in the first quarter. US Bancorp DE now owns 18,180 shares of the oil and natural gas company’s stock worth $591,000 after buying an additional 463 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.
Parsley Energy Company Profile
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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