Parsley Energy, Inc. (NYSE:PE) – Equities researchers at Seaport Global Securities boosted their Q4 2017 earnings estimates for shares of Parsley Energy in a research report issued on Monday. Seaport Global Securities analyst M. Kelly now expects that the oil and natural gas company will earn $0.19 per share for the quarter, up from their prior estimate of $0.16. Seaport Global Securities has a “Neutral” rating and a $30.00 price target on the stock. Seaport Global Securities also issued estimates for Parsley Energy’s Q3 2018 earnings at $0.27 EPS.

Other equities research analysts also recently issued reports about the stock. Citigroup Inc. reissued a “buy” rating and set a $48.00 price target (up from $40.00) on shares of Parsley Energy in a research note on Saturday, April 22nd. FBR & Co set a $42.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, June 1st. Scotiabank set a $43.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Saturday, May 6th. UBS AG reissued a “buy” rating and set a $44.00 price target (up from $42.00) on shares of Parsley Energy in a research note on Friday, May 5th. Finally, BMO Capital Markets set a $40.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note 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 given a buy rating to the stock. Parsley Energy presently has an average rating of “Buy” and an average target price of $40.44.

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Shares of Parsley Energy (PE) opened at 25.06 on Tuesday. The company has a market capitalization of $6.16 billion, a PE ratio of 140.00 and a beta of -0.09. Parsley Energy has a one year low of $24.87 and a one year high of $39.82. The company’s 50-day moving average is $27.82 and its 200-day moving average is $30.65.

Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. The business had revenue of $213.68 million for the quarter, compared to the consensus estimate of $216.54 million. Parsley Energy had a return on equity of 2.06% and a net margin of 5.23%. The company’s quarterly revenue was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 earnings per share.

In related news, Director A R. Alameddine purchased 3,500 shares of Parsley Energy stock in a transaction dated Wednesday, May 17th. The stock was bought 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 directly owns 94,888 shares of the company’s stock, valued at $3,003,205.20. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Colin Roberts sold 3,400 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $102,000.00. Following the completion of the transaction, the insider now owns 229,326 shares of the company’s stock, valued at approximately $6,879,780. The disclosure for this sale can be found here. Insiders sold 1,720,900 shares of company stock valued at $54,100,050 in the last quarter. Corporate insiders own 15.51% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Parsley Energy during the first quarter valued at $133,000. Creative Planning raised its stake in shares of Parsley Energy by 4,425.0% in the first quarter. Creative Planning now owns 4,525 shares of the oil and natural gas company’s stock worth $147,000 after buying an additional 4,425 shares in the last quarter. Fortaleza Asset Management Inc. raised its stake in shares of Parsley Energy by 50.3% in the first quarter. Fortaleza Asset Management Inc. now owns 4,540 shares of the oil and natural gas company’s stock worth $148,000 after buying an additional 1,520 shares in the last quarter. Envestnet Asset Management Inc. raised 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 worth $153,000 after buying an additional 300 shares in the last quarter. Finally, American International Group Inc. raised 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 worth $158,000 after buying an additional 180 shares in the last quarter. Institutional investors own 91.14% 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.

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

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