Wall Street brokerages forecast that Parsley Energy, Inc. (NYSE:PE) will announce $0.18 earnings per share for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Parsley Energy’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.10. Parsley Energy posted earnings per share of $0.06 during the same quarter last year, which suggests a positive year over year growth rate of 200%. The company is expected to issue its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Parsley Energy will report full-year earnings of $0.47 per share for the current financial year, with EPS estimates ranging from $0.34 to $0.57. For the next year, analysts anticipate that the business will post earnings of $1.05 per share, with EPS estimates ranging from $0.64 to $1.56. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Parsley Energy.
Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.02. The firm had revenue of $241.02 million during the quarter, compared to analyst estimates of $234.58 million. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company’s revenue was up 81.8% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share.
PE has been the subject of a number of research reports. Williams Capital set a $39.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Seaport Global Securities upgraded Parsley Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.00 in a research report on Friday, August 11th. Northland Securities set a $43.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, July 17th. Citigroup Inc. set a $50.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Bank of America Corporation initiated coverage on Parsley Energy in a research report on Wednesday, July 19th. They issued a “buy” rating and a $37.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $40.36.
Shares of Parsley Energy (NYSE:PE) traded down $0.01 during mid-day trading on Friday, reaching $27.18. The company had a trading volume of 4,536,800 shares, compared to its average volume of 5,695,913. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.43 and a current ratio of 0.92. The firm has a market capitalization of $8,545.34, a price-to-earnings ratio of 71.53, a price-to-earnings-growth ratio of 3.16 and a beta of -0.05. Parsley Energy has a 1 year low of $22.98 and a 1 year high of $39.82.
Large investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Parsley Energy by 23.9% during the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 781 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Parsley Energy by 3.8% during the 1st quarter. American International Group Inc. now owns 4,858 shares of the oil and natural gas company’s stock valued at $158,000 after purchasing an additional 180 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Parsley Energy by 15.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,600 shares of the oil and natural gas company’s stock valued at $183,000 after purchasing an additional 900 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Parsley Energy by 14.1% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 5,949 shares of the oil and natural gas company’s stock valued at $193,000 after purchasing an additional 735 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Parsley Energy during the 3rd quarter valued at about $196,000. Institutional investors and hedge funds own 77.65% of the company’s stock.
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About Parsley Energy
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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