Parsley Energy Inc (NYSE:PE) – Research analysts at Capital One Financial lowered their Q1 2020 EPS estimates for Parsley Energy in a research report issued to clients and investors on Monday, March 23rd. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will post earnings per share of $0.26 for the quarter, down from their previous estimate of $0.42. Capital One Financial also issued estimates for Parsley Energy’s Q2 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.03 EPS, Q4 2020 earnings at $0.03 EPS, FY2020 earnings at $0.37 EPS, FY2021 earnings at $0.63 EPS, FY2022 earnings at $0.56 EPS and FY2023 earnings at $0.78 EPS.
Several other research analysts also recently commented on PE. Royal Bank of Canada lowered their price objective on Parsley Energy from $26.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 10th. Stifel Nicolaus cut Parsley Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $31.00 to $11.00 in a research report on Monday, March 9th. MKM Partners lowered their price objective on Parsley Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. UBS Group boosted their price objective on Parsley Energy from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Credit Suisse Group restated an “outperform” rating and set a $13.00 price objective on shares of Parsley Energy in a research report on Thursday, March 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the stock. Parsley Energy presently has a consensus rating of “Buy” and an average price target of $18.67.
Shares of NYSE PE opened at $5.74 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $11.95 and its two-hundred day moving average is $15.80. The company has a market cap of $2.37 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.16 and a beta of 0.98. Parsley Energy has a 12 month low of $3.92 and a 12 month high of $22.11.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Wednesday, February 19th. The oil and natural gas company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.03). The business had revenue of $522.45 million during the quarter, compared to the consensus estimate of $514.82 million. Parsley Energy had a return on equity of 4.87% and a net margin of 8.94%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share.
Institutional investors have recently bought and sold shares of the business. Capital Wealth Alliance LLC bought a new position in shares of Parsley Energy in the fourth quarter valued at about $46,000. Fieldpoint Private Securities LLC acquired a new stake in Parsley Energy in the 4th quarter valued at about $47,000. Quadrant Capital Group LLC raised its stake in shares of Parsley Energy by 28.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,800 shares of the oil and natural gas company’s stock worth $48,000 after acquiring an additional 625 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Parsley Energy by 22.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,381 shares of the oil and natural gas company’s stock worth $102,000 after acquiring an additional 993 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Parsley Energy by 193.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 6,344 shares of the oil and natural gas company’s stock worth $120,000 after purchasing an additional 4,185 shares in the last quarter. 64.07% of the stock is currently owned by institutional investors.
In other news, Director A R. Alameddine acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $13.24 per share, with a total value of $132,400.00. 12.14% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.48%. This is a boost from Parsley Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, March 9th. Parsley Energy’s dividend payout ratio is currently 17.86%.
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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