Parsley Energy, Inc. (PE) Expected to Post Quarterly Sales of $242.82 Million
Wall Street analysts predict that Parsley Energy, Inc. (NYSE:PE) will post $242.82 million in sales for the current fiscal quarter, according to Zacks. Eleven analysts have made estimates for Parsley Energy’s earnings. The highest sales estimate is $288.41 million and the lowest is $217.90 million. Parsley Energy posted sales of $132.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 83%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Parsley Energy will report full year sales of $242.82 million for the current year, with estimates ranging from $888.30 million to $1.09 billion. For the next year, analysts forecast that the company will post sales of $1.54 billion per share, with estimates ranging from $1.13 billion to $1.96 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last announced its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The business had revenue of $213.68 million for the quarter, compared to the consensus estimate of $216.54 million. During the same quarter in the previous year, the company earned $0.04 EPS. Parsley Energy’s revenue for the quarter was up 99.9% compared to the same quarter last year.
A number of brokerages have recently issued reports on PE. Piper Jaffray Companies set a $34.00 price objective on Parsley Energy and gave the stock a “buy” rating in a report on Monday. BidaskClub cut Parsley Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Northland Securities set a $43.00 price objective on Parsley Energy and gave the stock a “buy” rating in a report on Monday, August 21st. Barclays PLC reduced their price objective on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. Finally, Seaport Global Securities upgraded Parsley Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.00 in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating and twenty-three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $40.86.
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Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Parsley Energy by 3.2% during the second quarter. Vanguard Group Inc. now owns 19,016,423 shares of the oil and natural gas company’s stock worth $527,706,000 after buying an additional 597,682 shares in the last quarter. Apollo Management Holdings L.P. acquired a new position in shares of Parsley Energy during the second quarter worth $414,418,000. BlackRock Inc. increased its holdings in shares of Parsley Energy by 2.0% during the second quarter. BlackRock Inc. now owns 11,438,545 shares of the oil and natural gas company’s stock worth $317,419,000 after buying an additional 223,388 shares in the last quarter. FMR LLC increased its holdings in shares of Parsley Energy by 40.2% during the second quarter. FMR LLC now owns 10,091,313 shares of the oil and natural gas company’s stock worth $280,034,000 after buying an additional 2,893,045 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Parsley Energy by 1.6% during the second quarter. TIAA CREF Investment Management LLC now owns 8,113,863 shares of the oil and natural gas company’s stock worth $225,160,000 after buying an additional 124,462 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.
Shares of Parsley Energy (NYSE:PE) opened at 24.05 on Wednesday. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82. The company has a market cap of $5.96 billion, a P/E ratio of 134.36 and a beta of -0.05. The firm has a 50 day moving average price of $25.96 and a 200-day moving average price of $27.72.
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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