Parsley Energy, Inc. (NYSE:PE) – Investment analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for Parsley Energy in a report released on Thursday. SunTrust Banks analyst N. Dingmann now anticipates that the oil and natural gas company will earn $0.49 per share for the year, up from their prior estimate of $0.45. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2017 earnings at $0.16 EPS and FY2020 earnings at $2.27 EPS.
Parsley Energy (NYSE:PE) last announced its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Parsley Energy had a return on equity of 1.87% and a net margin of 3.22%. The company had revenue of $241.02 million for the quarter, compared to the consensus estimate of $234.58 million. During the same period last year, the business posted $0.05 EPS. The company’s revenue was up 81.8% on a year-over-year basis.
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A number of other analysts also recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 price target (down from $37.00) on shares of Parsley Energy in a research note on Sunday. Northland Securities reiterated a “buy” rating and set a $40.00 target price on shares of Parsley Energy in a research report on Friday. Imperial Capital boosted their target price on Parsley Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded Parsley Energy from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies set a $34.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-three have given a buy rating to the stock. Parsley Energy currently has a consensus rating of “Buy” and an average price target of $40.36.
Shares of Parsley Energy (NYSE:PE) opened at $26.77 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Parsley Energy has a 12 month low of $22.98 and a 12 month high of $39.82. The firm has a market capitalization of $8,545.34, a P/E ratio of 71.53, a P/E/G ratio of 3.12 and a beta of -0.05.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its stake in Parsley Energy by 23.9% in the second 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 during the last quarter. American International Group Inc. increased its stake in Parsley Energy by 3.8% in the first 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 during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Parsley Energy by 14.1% in the first 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 during the last quarter. Daiwa Securities Group Inc. increased its stake in Parsley Energy by 15.8% in the second 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 during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Parsley Energy in the third quarter valued at $196,000. Hedge funds and other institutional investors own 78.49% of the company’s stock.
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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