Parsley Energy (NYSE:PE) – Stock analysts at SunTrust Banks decreased their Q3 2018 earnings per share (EPS) estimates for shares of Parsley Energy in a report released on Monday, April 16th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will post earnings of $0.33 per share for the quarter, down from their previous estimate of $0.35. SunTrust Banks currently has a “Buy” rating and a $38.00 target price on the stock. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.21 EPS and FY2019 earnings at $1.94 EPS.
Parsley Energy (NYSE:PE) last issued its earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Parsley Energy had a net margin of 11.04% and a return on equity of 3.10%. The firm had revenue of $311.49 million during the quarter, compared to analyst estimates of $298.04 million. During the same quarter last year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 99.8% on a year-over-year basis.
A number of other brokerages also recently issued reports on PE. Piper Jaffray reissued a “buy” rating and issued a $41.00 price target on shares of Parsley Energy in a report on Tuesday, January 9th. ValuEngine downgraded shares of Parsley Energy from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Morgan Stanley increased their price target on shares of Parsley Energy from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Credit Suisse Group set a $38.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus set a $57.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $36.88.
Shares of Parsley Energy stock opened at $29.38 on Tuesday. Parsley Energy has a 12-month low of $21.12 and a 12-month high of $32.90. The stock has a market capitalization of $9,284.94, a PE ratio of 47.27, a PEG ratio of 1.47 and a beta of -0.50. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37.
Hedge funds have recently bought and sold shares of the business. Assetmark Inc. raised its stake in shares of Parsley Energy by 417.5% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after acquiring an additional 2,864 shares in the last quarter. Cerebellum GP LLC purchased a new position in shares of Parsley Energy during the fourth quarter worth approximately $128,000. American International Group Inc. purchased a new position in shares of Parsley Energy during the fourth quarter worth approximately $155,000. IFM Investors Pty Ltd purchased a new position in shares of Parsley Energy during the third quarter worth approximately $209,000. Finally, M&T Bank Corp purchased a new position in shares of Parsley Energy during the fourth quarter worth approximately $249,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
In other Parsley Energy news, insider Colin Roberts sold 7,500 shares of Parsley Energy stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $28.29, for a total transaction of $212,175.00. Following the transaction, the insider now directly owns 254,204 shares of the company’s stock, valued at $7,191,431.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bryan Sheffield purchased 189,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $26.34 per share, for a total transaction of $4,991,430.00. Following the completion of the purchase, the insider now directly owns 11,533,063 shares of the company’s stock, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. Company insiders own 13.17% of the company’s stock.
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Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico. As of December 31, 2017, its acreage position consisted of 219,747 net acres, including 174,392 net acres in the Midland Basin and 45,355 net acres in the Delaware Basin; and 241.0 net producing horizontal wells and 731.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 416.4 MMBoe.
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