Analysts Anticipate Parsley Energy, Inc. (PE) Will Announce Quarterly Sales of $225.85 Million
Wall Street brokerages predict that Parsley Energy, Inc. (NYSE:PE) will post sales of $225.85 million for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Parsley Energy’s earnings, with estimates ranging from $207.10 million to $254.71 million. Parsley Energy reported sales of $106.31 million during the same quarter last year, which suggests a positive year over year growth rate of 112.4%. The company is expected to issue its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Parsley Energy will report full-year sales of $225.85 million for the current financial year, with estimates ranging from $942.10 million to $1.26 billion. For the next financial year, analysts forecast that the firm will post sales of $1.67 billion per share, with estimates ranging from $1.25 billion to $2.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $181.23 million. During the same period last year, the firm posted ($0.02) EPS. Parsley Energy’s revenue for the quarter was up 222.5% on a year-over-year basis.
Several analysts recently issued reports on PE shares. FBR & Co set a $42.00 price target on shares of Parsley Energy and gave the company a “buy” rating in a report on Thursday, June 1st. Scotiabank set a $43.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Saturday, May 6th. UBS AG reissued a “buy” rating and set a $44.00 target price (up from $42.00) on shares of Parsley Energy in a report on Friday, May 5th. BMO Capital Markets set a $40.00 target price on shares of Parsley Energy and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Citigroup Inc. reissued a “buy” rating and set a $48.00 target price (up from $40.00) on shares of Parsley Energy in a report on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $40.37.
Shares of Parsley Energy (NYSE:PE) traded down 1.17% on Friday, reaching $27.80. 5,264,905 shares of the company’s stock traded hands. The stock’s market capitalization is $6.85 billion. Parsley Energy has a 52 week low of $25.17 and a 52 week 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 Colin Roberts sold 3,000 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $29.56, for a total value of $88,680.00. Following the completion of the sale, the insider now directly owns 232,726 shares of the company’s stock, valued at approximately $6,879,380.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director A R. Alameddine purchased 3,500 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $31.65 per share, with a total value of $110,775.00. Following the completion of the acquisition, the director now directly owns 94,888 shares in the company, valued at approximately $3,003,205.20. The disclosure for this purchase can be found here. Insiders sold a total of 1,723,900 shares of company stock valued at $54,188,730 in the last quarter. 15.51% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Columbus Circle Investors increased its stake in shares of Parsley Energy by 521.6% in the first quarter. Columbus Circle Investors now owns 1,734,743 shares of the oil and natural gas company’s stock worth $56,396,000 after buying an additional 1,455,672 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Parsley Energy by 27.5% in the first quarter. Wellington Management Group LLP now owns 7,344,323 shares of the oil and natural gas company’s stock worth $238,765,000 after buying an additional 1,583,529 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Parsley Energy by 5.5% in the first quarter. Prudential Financial Inc. now owns 10,970 shares of the oil and natural gas company’s stock worth $357,000 after buying an additional 570 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Parsley Energy by 21.8% in the first quarter. Bank of New York Mellon Corp now owns 1,142,698 shares of the oil and natural gas company’s stock worth $37,150,000 after buying an additional 204,345 shares during the last quarter. Finally, Cobalt Capital Management Inc. increased its stake in shares of Parsley Energy by 19.0% in the first quarter. Cobalt Capital Management Inc. now owns 1,315,400 shares of the oil and natural gas company’s stock worth $42,764,000 after buying an additional 210,000 shares during the last quarter. 91.60% of the stock is owned by institutional investors.
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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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