Parsley Energy Inc (NYSE:PE) – Research analysts at Jefferies Group raised their FY2017 earnings estimates for Parsley Energy in a report released on Wednesday, according to Zacks Investment Research. Jefferies Group analyst M. Lear now anticipates that the oil and natural gas company will post earnings of $0.49 per share for the year, up from their previous forecast of $0.42. Jefferies Group has a “Buy” rating and a $34.00 price target on the stock. Jefferies Group also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.16 EPS.
PE has been the topic of several other reports. Northland Securities restated a “buy” rating and issued a $40.00 price target on shares of Parsley Energy in a research report on Friday, November 10th. Stifel Nicolaus set a $46.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. KeyCorp reaffirmed a “buy” rating and set a $39.00 price objective on shares of Parsley Energy in a research note on Tuesday, September 19th. Piper Jaffray Companies dropped their price objective on Parsley Energy from $42.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Parsley Energy from $50.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $39.27.
Parsley Energy (NYSE PE) traded down $0.01 during trading hours on Friday, hitting $29.11. The stock had a trading volume of 9,206,655 shares, compared to its average volume of 3,318,172. Parsley Energy has a 1-year low of $22.98 and a 1-year high of $37.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $9,154.95, a price-to-earnings ratio of 363.92, a P/E/G ratio of 1.55 and a beta of -0.05.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The business had revenue of $241.02 million for the quarter, compared to analyst estimates of $234.58 million. During the same period last year, the company earned $0.05 EPS. The firm’s revenue was up 81.8% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PE. Advisor Group Inc. raised its stake in shares of Parsley Energy by 23.9% in 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 purchasing an additional 781 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Parsley Energy by 14.1% in the 1st 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 purchasing an additional 735 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Parsley Energy in the 3rd quarter valued at about $196,000. Trexquant Investment LP acquired a new stake in shares of Parsley Energy in the 3rd quarter valued at about $206,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Parsley Energy in the 3rd quarter valued at about $209,000. 80.16% of the stock is currently owned by hedge funds and other institutional investors.
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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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