Parsley Energy Inc (NYSE:PE) – Stock analysts at Jefferies Financial Group dropped their Q3 2018 earnings estimates for Parsley Energy in a note issued to investors on Monday, October 15th. Jefferies Financial Group analyst M. Lear now expects that the oil and natural gas company will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.44. Jefferies Financial Group has a “Buy” rating and a $40.00 price objective on the stock. Jefferies Financial Group also issued estimates for Parsley Energy’s Q1 2019 earnings at $0.55 EPS and Q2 2019 earnings at $0.52 EPS.
Parsley Energy (NYSE:PE) last released its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $467.79 million during the quarter, compared to analyst estimates of $431.02 million. Parsley Energy had a net margin of 16.89% and a return on equity of 5.25%.
NYSE PE opened at $28.81 on Tuesday. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 0.62 and a beta of -0.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.93 and a quick ratio of 0.93. Parsley Energy has a 1-year low of $21.12 and a 1-year high of $33.43.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in Parsley Energy by 20.1% in the second quarter. Bank of New York Mellon Corp now owns 6,895,147 shares of the oil and natural gas company’s stock valued at $208,786,000 after purchasing an additional 1,156,137 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Parsley Energy by 11.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 28,950 shares of the oil and natural gas company’s stock valued at $877,000 after purchasing an additional 3,008 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Parsley Energy by 17.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 955,564 shares of the oil and natural gas company’s stock valued at $28,935,000 after purchasing an additional 145,243 shares in the last quarter. Luminus Management LLC boosted its holdings in Parsley Energy by 133.3% in the second quarter. Luminus Management LLC now owns 1,633,291 shares of the oil and natural gas company’s stock valued at $49,456,000 after purchasing an additional 933,291 shares in the last quarter. Finally, Usca Ria LLC boosted its holdings in Parsley Energy by 47.3% in the second quarter. Usca Ria LLC now owns 13,625 shares of the oil and natural gas company’s stock valued at $413,000 after purchasing an additional 4,375 shares in the last quarter. 84.58% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Hemang Desai acquired 1,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was acquired at an average cost of $27.32 per share, with a total value of $27,320.00. Following the completion of the transaction, the director now owns 31,886 shares in the company, valued at approximately $871,125.52. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bryan Sheffield sold 2,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $28.15, for a total value of $70,375,000.00. Following the completion of the transaction, the insider now directly owns 9,033,063 shares of the company’s stock, valued at $254,280,723.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,763,328 shares of company stock valued at $78,318,180. Corporate insiders own 13.17% of the company’s stock.
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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