Brokerages predict that Parsley Energy, Inc. (NYSE:PE) will post $295.73 million in sales for the current quarter, according to Zacks. Nine analysts have provided estimates for Parsley Energy’s earnings, with the lowest sales estimate coming in at $256.00 million and the highest estimate coming in at $346.72 million. Parsley Energy posted sales of $155.88 million in the same quarter last year, which suggests a positive year-over-year growth rate of 89.7%. The firm is expected to report its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Parsley Energy will report full year sales of $295.73 million for the current financial year, with estimates ranging from $903.20 million to $1.02 billion. For the next year, analysts anticipate that the company will report sales of $1.52 billion per share, with estimates ranging from $1.13 billion to $1.91 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Parsley Energy.

Parsley Energy (NYSE:PE) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The company had revenue of $241.02 million during the quarter, compared to the consensus estimate of $234.58 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Parsley Energy’s revenue for the quarter was up 81.8% on a year-over-year basis.

PE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Stifel Nicolaus reiterated a “buy” rating and set a $46.00 target price on shares of Parsley Energy in a research note on Sunday, September 3rd. Citigroup decreased their target price on shares of Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Piper Jaffray Companies cut their price target on shares of Parsley Energy from $42.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, September 18th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 price target (down from $37.00) on shares of Parsley Energy in a report on Sunday, November 12th. Two 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 currently has an average rating of “Buy” and a consensus price target of $40.23.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Parsley Energy by 15.0% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock worth $1,738,000 after purchasing an additional 8,593 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Parsley Energy by 15.8% in 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 purchasing an additional 5,492 shares in the last quarter. Motco bought a new stake in shares of Parsley Energy in the 2nd quarter worth approximately $278,000. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Parsley Energy by 46.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 88,989 shares of the oil and natural gas company’s stock worth $2,469,000 after purchasing an additional 28,299 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Parsley Energy by 263.3% in 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 purchasing an additional 1,692,425 shares in the last quarter. 80.15% of the stock is owned by institutional investors and hedge funds.

Shares of Parsley Energy (NYSE:PE) opened at $27.44 on Friday. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.42. The firm has a market cap of $8,444.43, a PE ratio of 70.68 and a beta of -0.05. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

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

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