Equities research analysts expect Parsley Energy Inc (NYSE:PE) to post $486.50 million in sales for the current fiscal quarter, Zacks reports. Twelve analysts have issued estimates for Parsley Energy’s earnings. The highest sales estimate is $523.84 million and the lowest is $402.00 million. Parsley Energy reported sales of $467.79 million in the same quarter last year, which indicates a positive year over year growth rate of 4%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, August 6th.
According to Zacks, analysts expect that Parsley Energy will report full year sales of $1.96 billion for the current financial year, with estimates ranging from $1.82 billion to $2.22 billion. For the next fiscal year, analysts expect that the business will report sales of $2.46 billion, with estimates ranging from $2.13 billion to $3.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Parsley Energy.
Parsley Energy (NYSE:PE) last released its earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The firm had revenue of $427.67 million during the quarter, compared to analyst estimates of $410.04 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year.
A number of brokerages have recently commented on PE. Morgan Stanley set a $23.00 price objective on Cabot Oil & Gas and gave the stock a “hold” rating in a research report on Monday, June 24th. Williams Capital set a $30.00 price objective on Mdu Resources Group and gave the stock a “buy” rating in a research report on Thursday, May 2nd. SunTrust Banks set a $75.00 price objective on Cimarex Energy and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. TD Securities lowered their price objective on TRANSAT AT from C$15.00 to C$11.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Finally, Robert W. Baird set a $25.00 price objective on Actuant and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Parsley Energy currently has a consensus rating of “Buy” and a consensus price target of $30.31.
In other news, Director Jerry Windlinger acquired 1,985 shares of Parsley Energy stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $17.50 per share, for a total transaction of $34,737.50. Following the completion of the purchase, the director now owns 33,382 shares in the company, valued at $584,185. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bryan Sheffield sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $20.24, for a total value of $2,024,000.00. Following the completion of the sale, the insider now owns 8,801,632 shares of the company’s stock, valued at approximately $178,145,031.68. The disclosure for this sale can be found here. 12.14% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PE. Cullen Frost Bankers Inc. acquired a new position in Parsley Energy during the first quarter worth $37,000. Quadrant Capital Group LLC grew its holdings in Parsley Energy by 462.5% during the first quarter. Quadrant Capital Group LLC now owns 3,814 shares of the oil and natural gas company’s stock worth $71,000 after acquiring an additional 3,136 shares during the period. Nisa Investment Advisors LLC acquired a new position in Parsley Energy during the second quarter worth $76,000. Advisor Group Inc. grew its holdings in Parsley Energy by 15.0% during the fourth quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock worth $88,000 after acquiring an additional 719 shares during the period. Finally, Marshall Wace LLP acquired a new position in Parsley Energy during the first quarter worth $134,000. Institutional investors own 82.30% of the company’s stock.
Shares of Parsley Energy stock traded down $0.10 on Friday, reaching $18.30. 2,868,292 shares of the company were exchanged, compared to its average volume of 3,914,810. Parsley Energy has a 1-year low of $14.17 and a 1-year high of $32.39. The company has a market capitalization of $5.79 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.34 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.43 and a current ratio of 0.43. The stock’s 50 day moving average is $18.06.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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