Parsley Energy, Inc. (PE) Forecasted to Post Q3 2017 Earnings of $0.09 Per Share
Parsley Energy, Inc. (NYSE:PE) – Equities researchers at Jefferies Group issued their Q3 2017 earnings per share estimates for Parsley Energy in a research report issued on Monday. Jefferies Group analyst M. Lear forecasts that the oil and natural gas company will earn $0.09 per share for the quarter. Jefferies Group has a “Buy” rating and a $34.00 price target on the stock. Jefferies Group also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.39 EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.25 EPS, FY2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.41 EPS and FY2019 earnings at $1.56 EPS.
Other equities analysts have also issued research reports about the company. Scotiabank set a $38.00 target price on Parsley Energy and gave the company a “buy” rating in a report on Saturday, July 1st. Barclays PLC dropped their target price on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. KeyCorp reissued a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a report on Tuesday, September 19th. Zacks Investment Research lowered Parsley Energy from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $39.00 target price on shares of Parsley Energy in a report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the stock. Parsley Energy has an average rating of “Buy” and an average target price of $40.96.
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Shares of Parsley Energy (PE) opened at 26.96 on Thursday. The firm has a market cap of $6.68 billion, a PE ratio of 150.61 and a beta of -0.05. The stock has a 50 day moving average price of $25.72 and a 200-day moving average price of $28.13. Parsley Energy has a 52-week low of $22.98 and a 52-week high of $39.82.
Parsley Energy (NYSE:PE) last posted its quarterly earnings data 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 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Parsley Energy by 15.8% during the second 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 during the period. JPMorgan Chase & Co. boosted its stake in shares of Parsley Energy by 263.3% during the second 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 during the period. Addison Capital Co boosted its stake in shares of Parsley Energy by 7.9% during the second 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 during the period. Motco acquired a new stake in shares of Parsley Energy during the second quarter worth about $278,000. Finally, Prudential Financial Inc. boosted its stake in shares of Parsley Energy by 5.5% during the first 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 during the period. Institutional investors and hedge funds own 77.94% 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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