Brokerages Expect Parsley Energy, Inc. (PE) Will Announce Quarterly Sales of $243.57 Million
Analysts forecast that Parsley Energy, Inc. (NYSE:PE) will announce sales of $243.57 million for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $288.41 million and the lowest estimate coming in at $217.50 million. Parsley Energy posted sales of $132.67 million during the same quarter last year, which would indicate a positive year over year growth rate of 83.6%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, November 7th.
On average, analysts expect that Parsley Energy will report full-year sales of $243.57 million for the current financial year, with estimates ranging from $888.30 million to $1.09 billion. For the next year, analysts anticipate that the firm will report sales of $1.53 billion per share, with estimates ranging from $1.19 billion to $1.96 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Parsley Energy.
Parsley Energy (NYSE:PE) last released its 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 business had revenue of $213.68 million during the quarter, compared to analysts’ expectations of $216.54 million. Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. Parsley Energy’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS.
A number of brokerages have recently weighed in on PE. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub cut shares of Parsley Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Seaport Global Securities cut shares of Parsley Energy from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Monday, July 17th. Northland Securities set a $43.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $39.00 price target on shares of Parsley Energy in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Parsley Energy currently has an average rating of “Buy” and an average target price of $41.18.
Large investors have recently modified their holdings of the business. Pacer Advisors Inc. lifted its position in Parsley Energy by 15.8% during the 2nd quarter. Pacer Advisors Inc. now owns 40,202 shares of the oil and natural gas company’s stock worth $1,116,000 after buying an additional 5,492 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Parsley Energy by 263.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,335,311 shares of the oil and natural gas company’s stock worth $64,805,000 after buying an additional 1,692,425 shares in the last quarter. Addison Capital Co lifted its position in Parsley Energy by 7.9% during the 2nd quarter. Addison Capital Co now owns 15,278 shares of the oil and natural gas company’s stock worth $424,000 after buying an additional 1,114 shares in the last quarter. Prudential Financial Inc. lifted its position in Parsley Energy by 5.5% during the 1st 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 in the last quarter. Finally, Motco bought a new stake in Parsley Energy during the 2nd quarter worth about $278,000. 77.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Parsley Energy (NYSE PE) opened at 27.03 on Friday. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 151.01 and a beta of -0.05. The stock has a 50 day moving average price of $25.49 and a 200-day moving average price of $28.26. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $39.82.
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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