Parsley Energy (NYSE:PE) announced its earnings results on Wednesday. The oil and natural gas company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13, Bloomberg Earnings reports. The business had revenue of $311.49 million during the quarter, compared to analyst estimates of $298.04 million. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The company’s quarterly revenue was up 99.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS.
Parsley Energy (NYSE PE) traded down $0.19 during trading hours on Wednesday, hitting $23.10. The stock had a trading volume of 6,174,788 shares, compared to its average volume of 6,912,314. 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 stock has a market cap of $7,320.00, a price-to-earnings ratio of 330.00, a price-to-earnings-growth ratio of 0.93 and a beta of -0.32. Parsley Energy has a 52-week low of $21.12 and a 52-week high of $33.07.
PE has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Parsley Energy from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. ValuEngine lowered shares of Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. decreased their target price on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, November 15th. Northland Securities set a $36.00 target price on shares of Parsley Energy and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Morgan Stanley boosted their target price on shares of Parsley Energy from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $36.00.
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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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