$0.11 Earnings Per Share Expected for Parsley Energy, Inc. (NYSE:PE) This Quarter
Wall Street analysts expect Parsley Energy, Inc. (NYSE:PE) to report $0.11 earnings per share (EPS) for the current quarter, according to Zacks. Ten analysts have issued estimates for Parsley Energy’s earnings. The highest EPS estimate is $0.15 and the lowest is $0.07. Parsley Energy reported earnings of $0.04 per share in the same quarter last year, which indicates a positive year over year growth rate of 175%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Parsley Energy will report full-year earnings of $0.61 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.81. For the next financial year, analysts expect that the business will post earnings of $1.07 per share, with EPS estimates ranging from $0.61 to $1.78. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last posted its earnings results on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. The business had revenue of $200.90 million for the quarter, compared to analysts’ expectations of $181.23 million. Parsley Energy had a negative net margin of 4.26% and a positive return on equity of 2.04%. The firm’s revenue for the quarter was up 222.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share.
PE has been the subject of several analyst reports. Williams Capital upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $39.00 to $37.00 in a research note on Monday, June 12th. Barclays PLC reiterated an “overweight” rating and issued a $37.00 price objective (down previously from $41.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. Citigroup Inc. reiterated a “buy” rating and issued a $48.00 price objective (up previously from $40.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. Scotiabank set a $43.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Monday, March 27th. Finally, FBR & Co reiterated a “buy” rating on shares of Parsley Energy in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.30.
Shares of Parsley Energy (PE) opened at 28.22 on Friday. The company’s market cap is $6.96 billion. Parsley Energy has a 1-year low of $25.17 and a 1-year high of $39.82. The company has a 50-day moving average of $27.78 and a 200-day moving average of $31.10.
In other Parsley Energy news, insider Ryan Dalton sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $32.56, for a total transaction of $976,800.00. Following the sale, the insider now directly owns 329,957 shares of the company’s stock, valued at approximately $10,743,399.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Colin Roberts sold 3,400 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $30.00, for a total transaction of $102,000.00. Following the sale, the insider now directly 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 three months. Insiders own 15.51% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BB&T Corp increased its position in shares of Parsley Energy by 10.9% in the second quarter. BB&T Corp now owns 24,571 shares of the oil and natural gas company’s stock worth $683,000 after buying an additional 2,415 shares during the period. Viking Fund Management LLC increased its position in shares of Parsley Energy by 8.3% in the second quarter. Viking Fund Management LLC now owns 780,000 shares of the oil and natural gas company’s stock worth $21,645,000 after buying an additional 60,000 shares during the period. Aperio Group LLC increased its position in shares of Parsley Energy by 76.1% in the second quarter. Aperio Group LLC now owns 39,278 shares of the oil and natural gas company’s stock worth $1,090,000 after buying an additional 16,973 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Parsley Energy by 2,252.9% in the second quarter. Nisa Investment Advisors LLC now owns 12,000 shares of the oil and natural gas company’s stock worth $335,000 after buying an additional 11,490 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Parsley Energy by 539.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 36,014 shares of the oil and natural gas company’s stock worth $999,000 after buying an additional 30,384 shares during the period. Hedge funds and other institutional investors own 91.60% 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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