Equities analysts forecast that Parsley Energy Inc (NYSE:PE) will announce sales of $485.67 million for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Parsley Energy’s earnings. The lowest sales estimate is $402.00 million and the highest is $523.84 million. Parsley Energy posted sales of $467.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The business is expected to announce its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Parsley Energy will report full year sales of $1.97 billion for the current fiscal year, with estimates ranging from $1.82 billion to $2.22 billion. For the next year, analysts forecast that the business will post sales of $2.47 billion, with estimates ranging from $2.13 billion to $3.91 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Parsley Energy.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Parsley Energy had a return on equity of 6.05% and a net margin of 14.09%. The business had revenue of $427.67 million during the quarter, compared to the consensus estimate of $410.04 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year.
A number of research analysts have recently issued reports on PE shares. Evercore ISI upgraded shares of Parsley Energy from an “in-line” rating to an “outperform” rating and set a $19.72 price target on the stock in a research report on Monday, May 6th. SunTrust Banks set a $30.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. KeyCorp raised their price target on shares of Parsley Energy from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Robert W. Baird set a $24.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Friday, February 22nd. Finally, Northland Securities restated a “buy” rating and issued a $29.00 price target on shares of Parsley Energy in a research report on Friday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Parsley Energy presently has a consensus rating of “Buy” and an average target price of $30.87.
In other Parsley Energy news, insider Colin Roberts sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $20.00, for a total transaction of $60,000.00. Following the transaction, the insider now owns 271,926 shares of the company’s stock, valued at approximately $5,438,520. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bryan Sheffield sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the transaction, the insider now directly owns 8,801,632 shares in the company, valued at approximately $178,145,031.68. The disclosure for this sale can be found here. 12.14% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Utah Retirement Systems boosted its position in shares of Parsley Energy by 1.1% during the 1st quarter. Utah Retirement Systems now owns 49,841 shares of the oil and natural gas company’s stock valued at $962,000 after purchasing an additional 541 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Parsley Energy by 7.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,250 shares of the oil and natural gas company’s stock worth $132,000 after buying an additional 600 shares during the period. AGF Investments Inc. boosted its holdings in shares of Parsley Energy by 0.5% in the fourth quarter. AGF Investments Inc. now owns 112,160 shares of the oil and natural gas company’s stock worth $1,792,000 after buying an additional 610 shares during the period. Sapience Investments LLC boosted its holdings in shares of Parsley Energy by 0.3% in the first quarter. Sapience Investments LLC now owns 209,050 shares of the oil and natural gas company’s stock worth $4,035,000 after buying an additional 670 shares during the period. Finally, Advisor Group Inc. boosted its holdings in shares of Parsley Energy by 15.0% in the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock worth $88,000 after buying an additional 719 shares during the period. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
Parsley Energy stock opened at $16.93 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43. Parsley Energy has a 1 year low of $14.17 and a 1 year high of $33.25. The stock has a market capitalization of $5.50 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.31 and a beta of 0.50.
About Parsley Energy
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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