Parsley Energy, Inc. (NYSE:PE) – Research analysts at FBR & Co cut their FY2017 earnings estimates for shares of Parsley Energy in a note issued to investors on Monday. FBR & Co analyst J. Allman now expects that the oil and natural gas company will earn $0.57 per share for the year, down from their prior estimate of $0.61. FBR & Co has a “Buy” rating and a $42.00 price objective on the stock. FBR & Co also issued estimates for Parsley Energy’s FY2018 earnings at $0.79 EPS.

Several other analysts have also weighed in on PE. Citigroup Inc. reissued a “buy” rating and issued a $48.00 target price (up previously from $40.00) on shares of Parsley Energy in a report on Saturday, April 22nd. Barclays PLC reissued an “overweight” rating and issued a $37.00 target price (down previously from $41.00) on shares of Parsley Energy in a report on Saturday, April 22nd. BMO Capital Markets set a $40.00 target price on Parsley Energy and gave the company a “buy” rating in a report on Thursday, May 4th. UBS AG reissued a “buy” rating and issued a $44.00 target price (up previously from $42.00) on shares of Parsley Energy in a report on Friday, May 5th. Finally, Scotiabank set a $43.00 target price on Parsley Energy and gave the company a “buy” rating in a report on Saturday, May 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average target price of $40.37.

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Parsley Energy (NYSE PE) opened at 29.59 on Thursday. Parsley Energy has a one year low of $25.17 and a one year high of $39.82. The stock’s 50 day moving average is $27.64 and its 200 day moving average is $30.89. The firm’s market cap is $7.29 billion.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported $0.15 earnings per share for the quarter, beating 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 firm had revenue of $200.90 million for the quarter, compared to analyst estimates of $181.23 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 222.5% compared to the same quarter last year.

In other news, insider Colin Roberts sold 3,400 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.00, for a total value of $102,000.00. Following the transaction, the insider now directly owns 229,326 shares in the company, valued at approximately $6,879,780. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director A R. Alameddine acquired 3,500 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was purchased at an average price of $31.65 per share, for a total transaction of $110,775.00. Following the completion of the acquisition, the director now owns 94,888 shares in the company, valued at $3,003,205.20. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,723,900 shares of company stock worth $54,188,730. 15.51% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd increased its stake in shares of 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 valued at $325,000 after buying an additional 143 shares during the last quarter. American International Group Inc. increased its stake in shares of 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 valued at $158,000 after buying an additional 180 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased 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 last quarter. Envestnet Asset Management Inc. increased 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 last quarter. Finally, Atria Investments LLC increased its stake in shares of Parsley Energy by 3.2% in the second quarter. Atria Investments LLC now owns 10,138 shares of the oil and natural gas company’s stock valued at $281,000 after buying an additional 315 shares during the last quarter. Institutional investors own 91.60% 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.

Earnings History and Estimates for Parsley Energy (NYSE:PE)

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