SunTrust Banks Analysts Decrease Earnings Estimates for Parsley Energy, Inc. (PE)
Parsley Energy, Inc. (NYSE:PE) – Investment analysts at SunTrust Banks cut their FY2017 earnings per share (EPS) estimates for shares of Parsley Energy in a research note issued on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings of $0.57 per share for the year, down from their previous estimate of $0.68. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.21 EPS and FY2018 earnings at $1.28 EPS.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by $0.06. Parsley Energy had a net margin of 5.23% and a return on equity of 2.06%. The firm had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same period in the prior year, the company earned $0.04 earnings per share. The business’s quarterly revenue was up 99.9% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/07/suntrust-banks-analysts-decrease-earnings-estimates-for-parsley-energy-inc-pe.html.
Other analysts have also issued reports about the company. Citigroup Inc. restated a “buy” rating and issued a $48.00 target price (up from $40.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. FBR & Co set a $42.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Thursday, June 1st. Scotiabank set a $43.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Saturday, May 6th. UBS AG reiterated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Parsley Energy in a research report on Friday, May 5th. Finally, BMO Capital Markets set a $40.00 price target on Parsley Energy and gave the company a “buy” rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $40.44.
Parsley Energy (PE) opened at 26.12 on Monday. The firm has a 50-day moving average price of $27.82 and a 200-day moving average price of $30.65. Parsley Energy has a one year low of $25.07 and a one year high of $39.82. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 145.92 and a beta of -0.09.
Several institutional investors have recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its position in Parsley Energy by 42.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,630 shares of the oil and natural gas company’s stock worth $171,000 after buying an additional 1,678 shares during the last quarter. Columbus Circle Investors boosted its position in 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. Quantitative Systematic Strategies LLC purchased a new position in Parsley Energy during the first quarter worth about $284,000. DnB Asset Management AS purchased a new position in Parsley Energy during the first quarter worth about $682,000. Finally, Addison Capital Co purchased a new position in Parsley Energy during the first quarter worth about $460,000. Hedge funds and other institutional investors own 91.14% of the company’s stock.
In other news, insider Colin Roberts sold 3,400 shares of the company’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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan Dalton sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $32.56, for a total value of $976,800.00. Following the completion of the transaction, the insider now owns 329,957 shares of the company’s stock, valued at $10,743,399.92. The disclosure for this sale can be found here. Insiders sold a total of 1,720,900 shares of company stock valued at $54,100,050 over the last quarter. Company insiders own 15.51% 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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