Parsley Energy, Inc. Forecasted to Earn Q3 2017 Earnings of $0.15 Per Share (PE)
Parsley Energy, Inc. (NYSE:PE) – Equities research analysts at Imperial Capital issued their Q3 2017 earnings per share estimates for Parsley Energy in a research note issued on Tuesday. Imperial Capital analyst I. Haas forecasts that the oil and natural gas company will post earnings per share of $0.15 for the quarter. Imperial Capital currently has a “Outperform” rating and a $36.00 target price on the stock. Imperial Capital also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.22 EPS, FY2017 earnings at $0.58 EPS and FY2018 earnings at $1.27 EPS.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.06. The firm had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. Parsley Energy had a return on equity of 1.70% and a net margin of 5.23%. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS.
Several other research analysts have also recently issued reports on PE. 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 restated 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. Seaport Global Securities upgraded shares of Parsley Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $32.00 in a report on Friday, August 11th. BidaskClub cut shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Barclays PLC cut their target price on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.65.
Parsley Energy (NYSE:PE) opened at 24.56 on Thursday. Parsley Energy has a 12 month low of $24.25 and a 12 month high of $39.82. The firm has a market cap of $6.08 billion, a P/E ratio of 137.21 and a beta of -0.09. The stock has a 50 day moving average of $27.40 and a 200-day moving average of $29.85.
Institutional investors have recently made changes to their positions in the stock. Columbus Circle Investors raised its position 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 valued at $56,396,000 after buying an additional 1,455,672 shares in the last quarter. Prudential Financial Inc. raised its position 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 valued at $357,000 after buying an additional 570 shares in the last quarter. Wellington Management Group LLP raised its position 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 valued at $238,765,000 after buying an additional 1,583,529 shares in the last quarter. Addison Capital Co raised its position in shares of Parsley Energy by 7.9% in the second quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock valued at $424,000 after buying an additional 1,114 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $37,150,000 after buying an additional 204,345 shares in the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.
In other Parsley Energy news, insider Colin Roberts sold 3,400 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 229,326 shares of the company’s stock, valued at $6,879,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.51% 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.
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