Brokerages expect Parsley Energy Inc (NYSE:PE) to announce $0.40 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Parsley Energy’s earnings, with the lowest EPS estimate coming in at $0.24 and the highest estimate coming in at $0.54. Parsley Energy reported earnings of $0.05 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 700%. The business is expected to issue its next earnings results on Wednesday, August 1st.
On average, analysts expect that Parsley Energy will report full year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $0.99 to $2.43. For the next year, analysts anticipate that the firm will post earnings of $2.50 per share, with EPS estimates ranging from $1.56 to $3.80. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Parsley Energy.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Parsley Energy had a return on equity of 3.71% and a net margin of 13.82%. The firm had revenue of $392.70 million during the quarter, compared to the consensus estimate of $348.64 million. During the same period last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 95.5% on a year-over-year basis.
Several equities research analysts recently weighed in on the company. ValuEngine raised Parsley Energy from a “sell” rating to a “hold” rating in a report on Monday, June 18th. National Alliance Securities raised Parsley Energy from a “hold” rating to a “buy” rating in a report on Monday, June 18th. BMO Capital Markets set a $40.00 target price on Parsley Energy and gave the company a “buy” rating in a report on Friday, May 4th. Seaport Global Securities downgraded Parsley Energy from a “buy” rating to a “neutral” rating in a report on Friday, May 4th. Finally, Morgan Stanley raised their target price on Parsley Energy from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $37.87.
Shares of Parsley Energy traded up $0.07, hitting $30.28, during mid-day trading on Friday, according to Marketbeat Ratings. 3,264,810 shares of the company were exchanged, compared to its average volume of 6,310,155. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.20 and a quick ratio of 1.20. Parsley Energy has a 1-year low of $21.12 and a 1-year high of $33.43. The company has a market cap of $9.59 billion, a PE ratio of 43.88, a P/E/G ratio of 0.60 and a beta of -0.51.
In other news, insider Mike Hinson sold 41,681 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $31.95, for a total value of $1,331,707.95. Following the completion of the transaction, the insider now owns 422,626 shares in the company, valued at $13,502,900.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Colin Roberts sold 7,500 shares of the firm’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $28.29, for a total value of $212,175.00. Following the completion of the transaction, the insider now 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. In the last 90 days, insiders sold 69,181 shares of company stock valued at $2,161,883. Company insiders own 13.17% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Assetmark Inc. increased its position in Parsley Energy by 417.5% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after purchasing an additional 2,864 shares in the last quarter. LS Investment Advisors LLC increased its position in Parsley Energy by 67.0% during the 1st quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock worth $118,000 after purchasing an additional 1,639 shares in the last quarter. American International Group Inc. purchased a new stake in Parsley Energy during the 4th quarter worth about $155,000. M&T Bank Corp purchased a new stake in Parsley Energy during the 4th quarter worth about $249,000. Finally, S&CO Inc. purchased a new stake in Parsley Energy during the 1st quarter worth about $255,000. Institutional investors and hedge funds own 85.12% of the company’s stock.
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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