Parsley Energy Inc (NYSE:PE) – Stock analysts at SunTrust Banks reduced their Q2 2019 earnings estimates for Parsley Energy in a research report issued on Monday, July 8th. SunTrust Banks analyst N. Dingmann now forecasts that the oil and natural gas company will post earnings of $0.37 per share for the quarter, down from their prior forecast of $0.39. SunTrust Banks has a “Buy” rating and a $30.00 price target on the stock. SunTrust Banks also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.46 EPS.
Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Wednesday, May 1st. The oil and natural gas company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). Parsley Energy had a net margin of 14.09% and a return on equity of 6.05%. The business had revenue of $427.67 million during the quarter, compared to the consensus estimate of $410.04 million. During the same period in the previous year, the business posted $0.31 EPS. The firm’s revenue was up 8.9% on a year-over-year basis.
Shares of NYSE:PE opened at $18.40 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.36. Parsley Energy has a 12 month low of $14.17 and a 12 month high of $32.39. The firm has a 50-day simple moving average of $18.06. The company has a market cap of $5.99 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.33 and a beta of 0.53.
Several large investors have recently modified their holdings of PE. Prudential Financial Inc. grew its holdings in Parsley Energy by 425.7% in the 4th quarter. Prudential Financial Inc. now owns 203,291 shares of the oil and natural gas company’s stock valued at $3,248,000 after buying an additional 164,621 shares in the last quarter. First Trust Advisors LP grew its holdings in Parsley Energy by 9.8% in the 4th quarter. First Trust Advisors LP now owns 218,100 shares of the oil and natural gas company’s stock valued at $3,485,000 after buying an additional 19,495 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Parsley Energy by 27,925.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,102 shares of the oil and natural gas company’s stock valued at $385,000 after buying an additional 24,016 shares in the last quarter. BlackRock Inc. grew its holdings in Parsley Energy by 2.0% in the 4th quarter. BlackRock Inc. now owns 13,523,102 shares of the oil and natural gas company’s stock valued at $216,100,000 after buying an additional 261,593 shares in the last quarter. Finally, Advisor Group Inc. grew its holdings in Parsley Energy by 15.0% in the 4th quarter. Advisor Group Inc. now owns 5,526 shares of the oil and natural gas company’s stock valued at $88,000 after buying an additional 719 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Bryan Sheffield sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $20.24, for a total transaction of $2,024,000.00. Following the transaction, the insider now directly owns 8,801,632 shares of the company’s stock, valued at $178,145,031.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jerry Windlinger bought 1,985 shares of Parsley Energy stock in a transaction dated Wednesday, June 5th. The shares were bought at an average cost of $17.50 per share, for a total transaction of $34,737.50. Following the completion of the transaction, the director now owns 33,382 shares of the company’s stock, valued at approximately $584,185. The disclosure for this purchase can be found here. Company insiders own 12.14% of the company’s stock.
Parsley Energy Company Profile
Parsley Energy, Inc, an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico. As of December 31, 2018, its acreage position consisted of 198,946 net acres, including 154,107 net acres in the Midland Basin and 44,839 net acres in the Delaware Basin; and operated 425.3 net acres of the horizontal wells and 735.7 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 521.7 MMBoe.
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