Parsley Energy Inc (PE) Expected to Announce Earnings of $0.18 Per Share

Wall Street analysts forecast that Parsley Energy Inc (NYSE:PE) will report earnings of $0.18 per share for the current quarter, according to Zacks. Eleven analysts have issued estimates for Parsley Energy’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.13. Parsley Energy posted earnings of $0.06 per share in the same quarter last year, which would suggest a positive year over year growth rate of 200%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Parsley Energy will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.46 to $0.60. For the next financial year, analysts expect that the firm will post earnings of $1.26 per share, with EPS estimates ranging from $0.58 to $2.01. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Parsley Energy.

Several equities analysts have recently weighed in on PE shares. Barclays set a $32.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Citigroup cut their price target on shares of Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 13th. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $37.38.

Parsley Energy (PE) traded up $0.17 during trading hours on Wednesday, hitting $23.49. 6,960,000 shares of the stock traded hands, compared to its average volume of 6,540,000. 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 stock has a market cap of $7,380.00, a price-to-earnings ratio of 335.57, a price-to-earnings-growth ratio of 0.91 and a beta of -0.32. Parsley Energy has a 52-week low of $22.41 and a 52-week high of $34.48.

Several institutional investors have recently added to or reduced their stakes in PE. Prudential Financial Inc. grew its holdings in shares of Parsley Energy by 20.1% during the second quarter. Prudential Financial Inc. now owns 13,170 shares of the oil and natural gas company’s stock worth $365,000 after buying an additional 2,200 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Parsley Energy by 195.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 336,149 shares of the oil and natural gas company’s stock valued at $9,328,000 after acquiring an additional 222,246 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Parsley Energy by 11.9% during the 2nd quarter. Nationwide Fund Advisors now owns 69,836 shares of the oil and natural gas company’s stock valued at $1,938,000 after acquiring an additional 7,441 shares during the last quarter. Northern Trust Corp boosted its position in shares of Parsley Energy by 3.8% during the 2nd quarter. Northern Trust Corp now owns 1,268,851 shares of the oil and natural gas company’s stock valued at $35,210,000 after acquiring an additional 46,729 shares during the last quarter. Finally, Advisor Group Inc. boosted 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 valued at $113,000 after acquiring an additional 781 shares during the last quarter. 80.06% of the stock is owned by institutional investors and hedge funds.

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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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