Parsley Energy, Inc. (NYSE:PE) – Equities research analysts at US Capital Advisors cut their Q3 2017 earnings per share estimates for shares of Parsley Energy in a report released on Tuesday, according to Zacks Investment Research. US Capital Advisors analyst C. Horwitz now anticipates that the oil and natural gas company will earn $0.10 per share for the quarter, down from their prior estimate of $0.15. US Capital Advisors has a “Overweight” rating on the stock. US Capital Advisors also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.24 EPS, FY2017 earnings at $0.54 EPS, Q1 2018 earnings at $0.34 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.42 EPS and FY2018 earnings at $1.54 EPS.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company’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. WARNING: This report was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2017/11/11/q3-2017-eps-estimates-for-parsley-energy-inc-reduced-by-analyst-pe.html.
A number of other brokerages have also commented on PE. Bank of America Corporation started coverage on Parsley Energy in a research note on Wednesday, July 19th. They issued a “buy” rating and a $37.00 target price for the company. Barclays PLC set a $32.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup Inc. dropped their price objective on Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $39.00 price objective on shares of Parsley Energy in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $40.77.
Shares of Parsley Energy (PE) traded down $0.01 during midday trading on Wednesday, hitting $27.18. The company had a trading volume of 4,536,800 shares, compared to its average volume of 4,940,688. The company has a quick ratio of 1.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $8,548.48, a price-to-earnings ratio of 71.55, a price-to-earnings-growth ratio of 3.17 and a beta of -0.05. Parsley Energy has a twelve month low of $22.98 and a twelve month high of $39.82.
A number of institutional investors have recently bought and sold shares of PE. Advisor Group Inc. boosted its holdings in Parsley Energy by 23.9% in the second 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. Envestnet Asset Management Inc. boosted its holdings in Parsley Energy by 6.8% in the first quarter. Envestnet Asset Management Inc. now owns 4,716 shares of the oil and natural gas company’s stock valued at $153,000 after acquiring an additional 300 shares during the last quarter. American International Group Inc. boosted its holdings in Parsley Energy by 3.8% in the first quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after acquiring an additional 180 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Parsley Energy by 15.8% in the second quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after acquiring an additional 900 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Parsley Energy by 14.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after acquiring an additional 735 shares during the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.
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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