Analysts Anticipate Parsley Energy, Inc. (PE) Will Post Quarterly Sales of $295.73 Million

Brokerages predict that Parsley Energy, Inc. (NYSE:PE) will post sales of $295.73 million for the current quarter, according to Zacks. Nine analysts have made estimates for Parsley Energy’s earnings, with estimates ranging from $256.00 million to $346.72 million. Parsley Energy posted sales of $155.88 million during the same quarter last year, which would indicate a positive year over year growth rate of 89.7%. The company is expected to report its next earnings report on Thursday, February 22nd.

On average, 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 financial year, analysts expect that the business will report sales of $1.52 billion per share, with estimates ranging from $1.13 billion to $1.91 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Parsley Energy.

Parsley Energy (NYSE:PE) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. Parsley Energy’s revenue for the quarter was up 81.8% on a year-over-year basis.

Several equities analysts have commented on the stock. KeyCorp reiterated a “buy” rating and set a $39.00 price objective on shares of Parsley Energy in a research report on Tuesday, September 19th. Barclays reduced their price target on shares of Parsley Energy from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 8th. Imperial Capital began coverage on shares of Parsley Energy in a research note on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 price target on the stock. US Capital Advisors reaffirmed an “overweight” rating on shares of Parsley Energy in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Parsley Energy in a research note on Sunday, September 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.23.

A number of hedge funds and other institutional investors have recently bought and sold shares of PE. Public Employees Retirement System of Ohio boosted its holdings in shares of Parsley Energy by 13.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 267,996 shares of the oil and natural gas company’s stock valued at $7,059,000 after buying an additional 32,731 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Parsley Energy by 10.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 323,336 shares of the oil and natural gas company’s stock valued at $8,517,000 after buying an additional 31,205 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Parsley Energy in the 3rd quarter valued at about $209,000. California Public Employees Retirement System boosted its holdings in shares of Parsley Energy by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 443,500 shares of the oil and natural gas company’s stock valued at $11,682,000 after buying an additional 6,800 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Parsley Energy by 14.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,409 shares of the oil and natural gas company’s stock valued at $670,000 after buying an additional 3,254 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.

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 company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $8,626.78, a price-to-earnings ratio of 72.21 and a beta of -0.05.

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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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