Parsley Energy Inc (NYSE:PE) – Research analysts at KeyCorp decreased their Q1 2018 earnings estimates for shares of Parsley Energy in a research report issued on Thursday. KeyCorp analyst C. Stevens now anticipates that the oil and natural gas company will post earnings of $0.23 per share for the quarter, down from their previous forecast of $0.24. KeyCorp also issued estimates for Parsley Energy’s Q2 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.27 EPS and FY2019 earnings at $2.40 EPS.
Other research analysts also recently issued reports about the company. Northland Securities set a $36.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Monday, December 11th. Scotiabank reissued a “buy” rating and issued a $38.00 price target on shares of Parsley Energy in a report on Wednesday, November 22nd. BMO Capital Markets set a $35.00 price target on Parsley Energy and gave the company a “buy” rating in a report on Tuesday, November 14th. Piper Jaffray Companies reissued a “buy” rating and issued a $41.00 price target on shares of Parsley Energy in a report on Tuesday, January 9th. Finally, Credit Suisse Group set a $38.00 price objective on Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $36.13.
Parsley Energy (NYSE:PE) opened at $26.21 on Friday. Parsley Energy has a twelve month low of $21.12 and a twelve month high of $33.07. The stock has a market capitalization of $8,240.00, a P/E ratio of 65.53, a price-to-earnings-growth ratio of 0.92 and a beta of -0.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.13. Parsley Energy had a return on equity of 3.16% and a net margin of 11.04%. The company had revenue of $311.49 million during the quarter, compared to the consensus estimate of $298.04 million. During the same period in the previous year, the company posted $0.06 earnings per share. Parsley Energy’s revenue for the quarter was up 99.8% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Viking Global Investors LP increased its position in shares of Parsley Energy by 129.7% during the fourth quarter. Viking Global Investors LP now owns 18,144,801 shares of the oil and natural gas company’s stock worth $534,183,000 after purchasing an additional 10,245,991 shares in the last quarter. Boston Partners increased its position in shares of Parsley Energy by 19.3% during the third quarter. Boston Partners now owns 15,267,555 shares of the oil and natural gas company’s stock worth $402,148,000 after purchasing an additional 2,466,399 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Parsley Energy by 9.5% during the fourth quarter. TIAA CREF Investment Management LLC now owns 9,885,217 shares of the oil and natural gas company’s stock worth $291,021,000 after purchasing an additional 855,841 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Parsley Energy by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 8,457,237 shares of the oil and natural gas company’s stock worth $248,980,000 after purchasing an additional 648,938 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Parsley Energy by 34.9% during the fourth quarter. Teachers Advisors LLC now owns 6,101,167 shares of the oil and natural gas company’s stock worth $179,618,000 after purchasing an additional 1,578,132 shares in the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.
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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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