FY2018 EPS Estimates for Parsley Energy Inc (PE) Lifted by Jefferies Financial Group

Parsley Energy Inc (NYSE:PE) – Jefferies Financial Group upped their FY2018 earnings per share (EPS) estimates for Parsley Energy in a research report issued on Tuesday, November 6th. Jefferies Financial Group analyst M. Lear now expects that the oil and natural gas company will earn $1.75 per share for the year, up from their previous forecast of $1.73. Jefferies Financial Group currently has a “Buy” rating and a $37.00 target price on the stock. Jefferies Financial Group also issued estimates for Parsley Energy’s Q1 2019 earnings at $0.49 EPS and Q2 2019 earnings at $0.46 EPS.

PE has been the subject of several other reports. Zacks Investment Research upgraded shares of Parsley Energy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, October 22nd. Williams Capital set a $38.00 target price on shares of Parsley Energy and gave the company a “hold” rating in a research note on Friday, November 2nd. Susquehanna Bancshares began coverage on shares of Parsley Energy in a research note on Wednesday, July 11th. They issued a “positive” rating and a $38.00 target price for the company. Ifs Securities began coverage on shares of Parsley Energy in a research note on Monday, October 29th. They issued a “strong-buy” rating for the company. Finally, Morgan Stanley decreased their target price on shares of Parsley Energy from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Monday. Five investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Parsley Energy presently has an average rating of “Buy” and an average price target of $38.33.

Shares of NYSE PE opened at $25.05 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.36. Parsley Energy has a 12 month low of $21.12 and a 12 month high of $33.43. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 0.51 and a beta of -0.13.

Parsley Energy (NYSE:PE) last released its earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Parsley Energy had a net margin of 21.70% and a return on equity of 6.84%. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $493.44 million. During the same quarter in the previous year, the firm earned $0.12 EPS. Parsley Energy’s revenue was up 112.0% compared to the same quarter last year.

In other news, insider Mike Hinson sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $30.24, for a total transaction of $7,560,000.00. Following the transaction, the insider now directly owns 663,978 shares in the company, valued at $20,078,694.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Hemang Desai bought 1,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were acquired at an average price of $27.32 per share, for a total transaction of $27,320.00. Following the completion of the transaction, the director now owns 31,886 shares of the company’s stock, valued at approximately $871,125.52. The disclosure for this purchase can be found here. Insiders sold 2,763,328 shares of company stock worth $78,318,180 over the last quarter. 13.17% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Parsley Energy by 4.8% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 735,477 shares of the oil and natural gas company’s stock worth $21,513,000 after acquiring an additional 33,750 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of Parsley Energy by 27.4% during the third quarter. GW&K Investment Management LLC now owns 607,483 shares of the oil and natural gas company’s stock worth $17,769,000 after acquiring an additional 130,706 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Parsley Energy by 768.4% during the third quarter. SG Americas Securities LLC now owns 123,976 shares of the oil and natural gas company’s stock worth $3,626,000 after acquiring an additional 109,700 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Parsley Energy by 7.3% during the third quarter. Bessemer Group Inc. now owns 74,292 shares of the oil and natural gas company’s stock worth $2,173,000 after acquiring an additional 5,024 shares during the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Parsley Energy by 29.2% during the third quarter. Sentry Investment Management LLC now owns 128,631 shares of the oil and natural gas company’s stock worth $3,762,000 after acquiring an additional 29,063 shares during the last quarter. Institutional investors and hedge funds own 83.90% 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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Earnings History and Estimates for Parsley Energy (NYSE:PE)

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