Capital One Financial Equities Analysts Increase Earnings Estimates for Parsley Energy Inc (PE)

Parsley Energy Inc (NYSE:PE) – Equities researchers at Capital One Financial lifted their FY2018 EPS estimates for Parsley Energy in a research note issued to investors on Wednesday. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings of $1.32 per share for the year, up from their prior forecast of $0.88.

PE has been the topic of a number of other reports. Barclays set a $32.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a report on Wednesday, October 11th. Imperial Capital upped their price target on shares of Parsley Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. JPMorgan Chase & Co. lowered their price target on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, November 15th. Zacks Investment Research lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, Citigroup lowered their price target on shares of Parsley Energy from $51.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $38.76.

Shares of Parsley Energy (NYSE PE) traded down $0.01 on Monday, hitting $29.11. 9,206,600 shares of the stock were exchanged, compared to its average volume of 4,974,433. The stock has a market capitalization of $9,151.81, a price-to-earnings ratio of 363.92, a PEG ratio of 1.52 and a beta of -0.05. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $37.72.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share.

Several institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd raised its position in shares of Parsley Energy by 6.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock worth $251,000 after acquiring an additional 565 shares during the period. Kennedy Capital Management Inc. raised its position in shares of Parsley Energy by 0.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock worth $2,669,000 after purchasing an additional 738 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Parsley Energy by 3.9% during the 2nd quarter. ProShare Advisors LLC now owns 20,637 shares of the oil and natural gas company’s stock worth $573,000 after purchasing an additional 768 shares during the last quarter. Advisor Group Inc. raised its position in shares of Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock worth $113,000 after purchasing an additional 781 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Parsley Energy by 13.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock worth $228,000 after purchasing an additional 945 shares during the last quarter. Institutional investors and hedge funds own 80.16% of the company’s stock.

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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.

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

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