Parsley Energy, Inc. (NYSE:PE) – Analysts at Seaport Global Securities raised their Q3 2017 EPS estimates for shares of Parsley Energy in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings of $0.12 per share for the quarter, up from their prior estimate of $0.11. Seaport Global Securities currently has a “Buy” rating and a $32.00 price target on the stock. Seaport Global Securities also issued estimates for Parsley Energy’s FY2017 earnings at $0.49 EPS.
Other equities research analysts also recently issued research reports about the company. Barclays PLC dropped their price objective on Parsley Energy from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 8th. Scotiabank set a $38.00 price objective on Parsley Energy and gave the company a “buy” rating in a report on Saturday, July 1st. KeyCorp reiterated a “buy” rating and issued a $39.00 price objective on shares of Parsley Energy in a report on Tuesday, September 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $39.00 price objective on shares of Parsley Energy in a report on Friday, July 14th. Finally, Imperial Capital assumed coverage on Parsley Energy in a report on Tuesday, August 15th. They issued an “outperform” rating and a $36.00 price objective for the company. Three analysts have rated the stock with a sell rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $40.86.
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Parsley Energy (PE) opened at 25.30 on Thursday. The company has a 50 day moving average price of $25.92 and a 200-day moving average price of $27.69. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 141.34 and a beta of -0.05. Parsley Energy has a 52-week low of $22.98 and a 52-week high of $39.82.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). Parsley Energy had a net margin of 5.23% and a return on equity of 1.70%. The company had revenue of $213.68 million during the quarter, compared to analyst estimates of $216.54 million. During the same quarter last year, the business earned $0.04 EPS. The company’s revenue for the quarter was up 99.9% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of PE. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Parsley Energy during the third quarter worth about $196,000. Victory Capital Management Inc. boosted its position in shares of Parsley Energy by 7.5% during the third quarter. Victory Capital Management Inc. now owns 7,808,299 shares of the oil and natural gas company’s stock worth $205,671,000 after buying an additional 543,928 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Parsley Energy by 15.0% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 65,985 shares of the oil and natural gas company’s stock worth $1,738,000 after buying an additional 8,593 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Parsley Energy by 3.6% during the third quarter. Pictet Asset Management Ltd. now owns 77,300 shares of the oil and natural gas company’s stock worth $2,036,000 after buying an additional 2,700 shares during the period. Finally, Cue Financial Group Inc. boosted its position in shares of Parsley Energy by 23.5% during the third quarter. Cue Financial Group Inc. now owns 23,355 shares of the oil and natural gas company’s stock worth $615,000 after buying an additional 4,445 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.
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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