Zacks: Brokerages Anticipate Parsley Energy Inc (PE) Will Announce Quarterly Sales of $299.05 Million

Wall Street brokerages expect Parsley Energy Inc (NYSE:PE) to post sales of $299.05 million for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $314.55 million and the lowest estimate coming in at $286.00 million. Parsley Energy reported sales of $155.88 million during the same quarter last year, which indicates a positive year-over-year growth rate of 91.8%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Parsley Energy will report full-year sales of $299.05 million for the current year, with estimates ranging from $936.00 million to $989.41 million. For the next year, analysts anticipate that the firm will post sales of $1.59 billion per share, with estimates ranging from $1.43 billion to $1.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Parsley Energy.

Several research analysts have recently issued reports on the company. Northland Securities reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Parsley Energy in a research note on Friday, November 10th. Credit Suisse Group set a $38.00 price objective on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Williams Capital downgraded Parsley Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $38.00 to $34.00 in a research note on Tuesday, January 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Parsley Energy in a research note on Friday, February 2nd. Finally, Morgan Stanley downgraded Parsley Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $37.38.

Parsley Energy (PE) opened at $22.09 on Friday. Parsley Energy has a 52 week low of $21.95 and a 52 week high of $33.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $6,940.00, a P/E ratio of 315.57, a PEG ratio of 0.93 and a beta of -0.32.

Several institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board boosted its holdings in shares of Parsley Energy by 6.2% during the 4th quarter. State of Wisconsin Investment Board now owns 663,897 shares of the oil and natural gas company’s stock worth $19,545,000 after buying an additional 38,856 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Parsley Energy by 40.2% during the 4th quarter. Toronto Dominion Bank now owns 13,135 shares of the oil and natural gas company’s stock worth $387,000 after buying an additional 3,766 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Parsley Energy by 7.8% during the 4th quarter. First Trust Advisors LP now owns 54,540 shares of the oil and natural gas company’s stock worth $1,606,000 after buying an additional 3,923 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in shares of Parsley Energy by 4.0% during the 4th quarter. Sentry Investment Management LLC now owns 118,921 shares of the oil and natural gas company’s stock worth $3,501,000 after buying an additional 4,534 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Parsley Energy by 0.4% during the 4th quarter. Swiss National Bank now owns 818,500 shares of the oil and natural gas company’s stock worth $24,097,000 after buying an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.

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About Parsley Energy

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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