Equities analysts predict that Parsley Energy (NYSE:PE) will report $408.39 million in sales for the current fiscal quarter, according to Zacks. Twelve analysts have issued estimates for Parsley Energy’s earnings. The highest sales estimate is $434.10 million and the lowest is $375.00 million. Parsley Energy posted sales of $213.68 million during the same quarter last year, which suggests a positive year-over-year growth rate of 91.1%. The business is expected to announce its next quarterly earnings report on Wednesday, August 1st.
On average, analysts expect that Parsley Energy will report full year sales of $1.71 billion for the current fiscal year, with estimates ranging from $1.53 billion to $1.90 billion. For the next year, analysts expect that the company will post sales of $2.29 billion per share, with estimates ranging from $1.90 billion to $2.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Parsley Energy.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. Parsley Energy had a net margin of 13.82% and a return on equity of 3.71%. The firm had revenue of $392.70 million during the quarter, compared to analysts’ expectations of $348.64 million. During the same period in the prior year, the company earned $0.13 EPS. The firm’s revenue was up 95.5% on a year-over-year basis.
A number of analysts recently weighed in on PE shares. ValuEngine raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Saturday, April 21st. Stifel Nicolaus set a $57.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. BMO Capital Markets set a $40.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Friday, May 4th. SunTrust Banks set a $34.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research report on Thursday, March 29th. Finally, Seaport Global Securities cut shares of Parsley Energy from a “buy” rating to a “neutral” rating in a research report on Friday, May 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. Parsley Energy currently has an average rating of “Buy” and a consensus price target of $37.50.
Parsley Energy traded down $1.23, reaching $31.61, during trading on Friday, MarketBeat.com reports. 7,011,300 shares of the company’s stock were exchanged, compared to its average volume of 6,192,405. The company has a current ratio of 1.20, a quick ratio of 1.50 and a debt-to-equity ratio of 0.37. Parsley Energy has a 52-week low of $21.12 and a 52-week high of $33.43. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of 45.81, a price-to-earnings-growth ratio of 0.95 and a beta of -0.50.
In related news, Director Ron Brokmeyer bought 2,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $25.66 per share, for a total transaction of $51,320.00. Following the purchase, the director now owns 112,128 shares in the company, valued at approximately $2,877,204.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bryan Sheffield bought 189,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $26.34 per share, for a total transaction of $4,991,430.00. Following the purchase, the insider now owns 11,533,063 shares in the company, valued at approximately $303,780,879.42. The disclosure for this purchase can be found here. Corporate insiders own 13.17% of the company’s stock.
Several institutional investors have recently modified their holdings of PE. Dimensional Fund Advisors LP raised its stake in shares of Parsley Energy by 28.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 878,270 shares of the oil and natural gas company’s stock valued at $23,133,000 after purchasing an additional 197,076 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Parsley Energy by 14.5% in the 4th quarter. DnB Asset Management AS now owns 22,891 shares of the oil and natural gas company’s stock valued at $674,000 after purchasing an additional 2,900 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Parsley Energy by 16.6% in the 4th quarter. Bank of Montreal Can now owns 240,419 shares of the oil and natural gas company’s stock valued at $7,077,000 after purchasing an additional 34,202 shares in the last quarter. Capital Impact Advisors LLC acquired a new stake in shares of Parsley Energy in the 4th quarter valued at about $2,212,000. Finally, Creative Planning acquired a new stake in shares of Parsley Energy in the 4th quarter valued at about $919,000. Institutional investors and hedge funds own 82.26% of the company’s stock.
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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