Parsley Energy Inc Forecasted to Earn FY2018 Earnings of $1.32 Per Share (PE)

Parsley Energy Inc (NYSE:PE) – Research analysts at Capital One Financial raised their FY2018 EPS estimates for shares of Parsley Energy in a research report issued on Wednesday. Capital One Financial analyst P. Johnston now expects that the oil and natural gas company will post earnings per share of $1.32 for the year, up from their prior forecast of $0.88.

Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The firm had revenue of $241.02 million during the quarter, compared to the consensus estimate of $234.58 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 81.8% on a year-over-year basis.

PE has been the subject of several other research reports. Barclays set a $32.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, October 11th. Imperial Capital boosted their target price on shares of Parsley Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. JPMorgan Chase & Co. lowered their price target on Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Zacks Investment Research cut Parsley Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Finally, Citigroup lowered their price target on Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-two have assigned a buy rating to the company. Parsley Energy has an average rating of “Buy” and an average target price of $38.76.

Shares of Parsley Energy (PE) traded up $0.12 during mid-day trading on Monday, reaching $28.84. 5,966,017 shares of the company traded hands, compared to its average volume of 5,113,909. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $37.72. The firm has a market cap of $9,070.00, a P/E ratio of 412.00, a price-to-earnings-growth ratio of 1.52 and a beta of -0.05. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

Several large investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Parsley Energy by 5.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 763,373 shares of the oil and natural gas company’s stock worth $22,474,000 after purchasing an additional 42,371 shares during the period. Creative Planning purchased a new stake in shares of Parsley Energy during the 4th quarter worth about $919,000. Capital Impact Advisors LLC purchased a new stake in shares of Parsley Energy during the 4th quarter worth about $2,212,000. Bank of Montreal Can grew its holdings in shares of Parsley Energy by 16.6% during the 4th quarter. Bank of Montreal Can now owns 240,419 shares of the oil and natural gas company’s stock worth $7,077,000 after purchasing an additional 34,202 shares during the period. Finally, DnB Asset Management AS grew its holdings in shares of Parsley Energy by 14.5% during the 4th quarter. DnB Asset Management AS now owns 22,891 shares of the oil and natural gas company’s stock worth $674,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 80.16% of the company’s stock.

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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.

Earnings History and Estimates for Parsley Energy (NYSE:PE)

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