Parsley Energy Inc Forecasted to Post Q2 2018 Earnings of $0.42 Per Share (PE)

Parsley Energy Inc (NYSE:PE) – Analysts at KeyCorp dropped their Q2 2018 EPS estimates for Parsley Energy in a report released on Monday, July 16th. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.54. KeyCorp also issued estimates for Parsley Energy’s Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.85 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.69 EPS, Q3 2019 earnings at $0.84 EPS, Q4 2019 earnings at $0.93 EPS and FY2019 earnings at $3.15 EPS.

Parsley Energy (NYSE:PE) last issued its quarterly earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. Parsley Energy had a return on equity of 3.71% and a net margin of 13.82%. The company had revenue of $392.70 million for the quarter, compared to analysts’ expectations of $348.64 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 95.5% on a year-over-year basis.

Other equities analysts have also recently issued reports about the company. TD Securities began coverage on Parsley Energy in a report on Thursday, July 5th. They issued a “buy” rating and a $37.00 target price on the stock. Stifel Nicolaus set a $57.00 target price on Parsley Energy and gave the stock a “buy” rating in a report on Wednesday, March 28th. ValuEngine cut Parsley Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 12th. Morgan Stanley lifted their target price on Parsley Energy from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Thursday, May 24th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $38.00 target price on shares of Parsley Energy in a report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.16.

Shares of Parsley Energy opened at $31.71 on Thursday, MarketBeat Ratings reports. Parsley Energy has a 1 year low of $21.12 and a 1 year high of $33.43. The firm has a market cap of $10.00 billion, a PE ratio of 45.96, a PEG ratio of 0.61 and a beta of -0.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.20 and a current ratio of 1.20.

Several institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in Parsley Energy during the second quarter valued at $307,000. Amalgamated Bank boosted its position in Parsley Energy by 18.4% during the second quarter. Amalgamated Bank now owns 57,020 shares of the oil and natural gas company’s stock valued at $1,727,000 after purchasing an additional 8,847 shares during the last quarter. AMG National Trust Bank boosted its position in Parsley Energy by 71.0% during the second quarter. AMG National Trust Bank now owns 32,352 shares of the oil and natural gas company’s stock valued at $980,000 after purchasing an additional 13,438 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Parsley Energy during the second quarter valued at $212,000. Finally, Sippican Capital Advisors acquired a new stake in Parsley Energy during the second quarter valued at $799,000. 85.22% of the stock is owned by institutional investors and hedge funds.

In other news, insider Colin Roberts sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $31.59, for a total value of $315,900.00. Following the completion of the sale, the insider now owns 244,204 shares of the company’s stock, valued at $7,714,404.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mike Hinson sold 41,681 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $31.95, for a total value of $1,331,707.95. Following the completion of the sale, the insider now directly owns 422,626 shares of the company’s stock, valued at approximately $13,502,900.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,681 shares of company stock valued at $1,949,708. 13.17% of the stock is currently owned by insiders.

Parsley Energy Company Profile

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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