Equities research analysts predict that Parsley Energy (NYSE:PE) will report $338.13 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $354.37 million and the lowest estimate coming in at $315.00 million. Parsley Energy posted sales of $200.86 million in the same quarter last year, which would indicate a positive year over year growth rate of 68.3%. The company is scheduled to announce its next earnings results after the market closes on Thursday, May 3rd.
On average, analysts expect that Parsley Energy will report full-year sales of $1.63 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.90 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.23 billion per share, with estimates ranging from $1.97 billion to $2.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Parsley Energy.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $298.04 million. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s revenue was up 99.8% compared to the same quarter last year.
Several research analysts recently issued reports on PE shares. Piper Jaffray reissued a “buy” rating and set a $41.00 target price on shares of Parsley Energy in a report on Tuesday, January 9th. ValuEngine cut shares of Parsley Energy from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Credit Suisse Group set a $38.00 target price 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. Robert W. Baird started coverage on shares of Parsley Energy in a report on Tuesday, December 19th. They set an “outperform” rating and a $33.00 target price for the company. Finally, BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (down previously from $41.00) on shares of Parsley Energy in a report on Friday, March 2nd. One equities research 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 stock presently has an average rating of “Buy” and an average target price of $36.88.
In other news, insider Bryan Sheffield acquired 189,500 shares of the business’s stock in a transaction on Monday, February 26th. The stock was bought at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the completion of the acquisition, the insider now owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Colin Roberts sold 7,500 shares of Parsley Energy stock in a transaction 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 completion of the transaction, the insider now directly owns 254,204 shares of the company’s stock, valued at approximately $7,191,431.16. The disclosure for this sale can be found here. 13.17% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock valued at $105,000 after purchasing an additional 2,864 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Parsley Energy in the fourth quarter valued at about $128,000. American International Group Inc. acquired a new stake in shares of Parsley Energy in the fourth quarter valued at about $155,000. IFM Investors Pty Ltd acquired a new stake in shares of Parsley Energy in the third quarter valued at about $209,000. Finally, M&T Bank Corp acquired a new stake in shares of Parsley Energy in the fourth quarter valued at about $249,000. 81.99% of the stock is owned by institutional investors.
Shares of Parsley Energy stock opened at $29.86 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.50 and a quick ratio of 1.50. Parsley Energy has a 1 year low of $21.12 and a 1 year high of $32.90. The firm has a market cap of $9,284.94, a P/E ratio of 43.28, a price-to-earnings-growth ratio of 1.47 and a beta of -0.50.
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About Parsley Energy
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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