Analysts Offer Predictions for Parsley Energy, Inc.’s Q2 2017 Earnings (NYSE:PE)
Parsley Energy, Inc. (NYSE:PE) – Investment analysts at SunTrust Banks lowered their Q2 2017 earnings estimates for shares of Parsley Energy in a research note issued on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will earn $0.11 per share for the quarter, down from their previous estimate of $0.12. SunTrust Banks also issued estimates for Parsley Energy’s FY2018 earnings at $1.49 EPS and FY2020 earnings at $3.40 EPS.
Several other brokerages also recently issued reports on PE. FBR & Co reaffirmed a “buy” rating on shares of Parsley Energy in a research report on Monday, May 15th. Scotiabank set a $43.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research report on Saturday, May 6th. Citigroup Inc. began coverage on shares of Parsley Energy in a research report on Wednesday, March 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Parsley Energy in a research report on Tuesday, March 14th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Parsley Energy in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $40.65.
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Parsley Energy (PE) opened at 26.90 on Monday. The company has a 50-day moving average of $29.06 and a 200-day moving average of $31.90. The stock’s market cap is $6.63 billion. Parsley Energy has a 52 week low of $25.17 and a 52 week high of $39.82.
Parsley Energy (NYSE:PE) last issued its quarterly 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. 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 the consensus estimate of $181.23 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 222.5% on a year-over-year basis.
In related news, insider Colin Roberts sold 3,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $29.56, for a total transaction of $88,680.00. Following the transaction, the insider now directly owns 232,726 shares in the company, valued at $6,879,380.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director A R. Alameddine acquired 3,500 shares of Parsley Energy stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $31.65 per share, for a total transaction of $110,775.00. Following the completion of the purchase, the director now directly owns 94,888 shares of the company’s stock, valued at $3,003,205.20. The disclosure for this purchase can be found here. Insiders have sold 1,723,900 shares of company stock worth $54,188,730 over the last 90 days. 15.51% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Parsley Energy by 6,471.4% in the first quarter. BlackRock Inc. now owns 11,215,157 shares of the oil and natural gas company’s stock worth $364,606,000 after buying an additional 11,044,492 shares during the last quarter. Vanguard Group Inc. boosted its stake in Parsley Energy by 47.3% in the first quarter. Vanguard Group Inc. now owns 18,418,741 shares of the oil and natural gas company’s stock worth $598,793,000 after buying an additional 5,913,072 shares during the last quarter. State Street Corp boosted its stake in Parsley Energy by 45.0% in the first quarter. State Street Corp now owns 5,834,217 shares of the oil and natural gas company’s stock worth $189,683,000 after buying an additional 1,809,520 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Parsley Energy by 617.4% in the first quarter. UBS Asset Management Americas Inc. now owns 2,095,420 shares of the oil and natural gas company’s stock worth $68,122,000 after buying an additional 1,803,342 shares during the last quarter. Finally, FMR LLC boosted its stake in Parsley Energy by 29.7% in the first quarter. FMR LLC now owns 7,198,268 shares of the oil and natural gas company’s stock worth $234,016,000 after buying an additional 1,649,919 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.
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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