Equities analysts expect Parsley Energy Inc (NYSE:PE) to report sales of $494.95 million for the current quarter, according to Zacks. Ten analysts have issued estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $534.74 million and the lowest estimate coming in at $451.00 million. Parsley Energy posted sales of $241.02 million in the same quarter last year, which indicates a positive year over year growth rate of 105.4%. The company is scheduled to announce its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Parsley Energy will report full-year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.72 billion to $1.92 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.38 billion per share, with estimates ranging from $2.16 billion to $2.53 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The business had revenue of $467.79 million for the quarter, compared to the consensus estimate of $431.02 million. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%.
A number of analysts have recently issued reports on PE shares. Zacks Investment Research downgraded Parsley Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. KLR Group reiterated a “buy” rating and set a $43.00 price target on shares of Parsley Energy in a research report on Monday, August 20th. Jefferies Financial Group lifted their price target on Parsley Energy from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 14th. Morgan Stanley lifted their price target on Parsley Energy from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 24th. Finally, National Alliance Securities upgraded Parsley Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.72.
Shares of PE opened at $28.55 on Friday. The stock has a market cap of $8.86 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 0.64 and a beta of -0.55. 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.
In related news, Director Hemang Desai purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were acquired at an average cost of $27.32 per share, with a total value of $27,320.00. Following the purchase, the director now directly owns 31,886 shares of the company’s stock, valued at $871,125.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mike Hinson sold 250,000 shares of Parsley Energy stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $30.24, for a total value of $7,560,000.00. Following the completion of the transaction, the insider now directly owns 663,978 shares in the company, valued at $20,078,694.72. The disclosure for this sale can be found here. Insiders sold a total of 2,773,328 shares of company stock valued at $78,620,280 in the last 90 days. 13.17% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in Parsley Energy by 487.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,069 shares of the oil and natural gas company’s stock worth $124,000 after purchasing an additional 3,376 shares during the period. MHI Funds LLC purchased a new position in Parsley Energy in the 2nd quarter worth approximately $163,000. Cerebellum GP LLC increased its stake in Parsley Energy by 129.3% in the 2nd quarter. Cerebellum GP LLC now owns 6,099 shares of the oil and natural gas company’s stock worth $185,000 after purchasing an additional 3,439 shares during the period. Deprince Race & Zollo Inc. purchased a new position in Parsley Energy in the 2nd quarter worth approximately $212,000. Finally, American International Group Inc. increased its stake in Parsley Energy by 38.1% in the 1st quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock worth $210,000 after purchasing an additional 2,000 shares during the period. 84.56% of the stock is currently owned by institutional investors and hedge funds.
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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