Parsley Energy Inc to Post Q3 2019 Earnings of $0.31 Per Share, Capital One Financial Forecasts (NYSE:PE)

Parsley Energy Inc (NYSE:PE) – Investment analysts at Capital One Financial upped their Q3 2019 EPS estimates for Parsley Energy in a note issued to investors on Friday, October 18th. Capital One Financial analyst P. Johnston now expects that the oil and natural gas company will earn $0.31 per share for the quarter, up from their prior forecast of $0.29. Capital One Financial also issued estimates for Parsley Energy’s Q4 2019 earnings at $0.34 EPS, FY2019 earnings at $1.20 EPS and FY2020 earnings at $1.84 EPS.

PE has been the subject of a number of other research reports. SunTrust Banks set a $23.00 price target on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup cut their price target on Parsley Energy from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. Cowen set a $24.00 price target on Parsley Energy and gave the company a “buy” rating in a research note on Wednesday, August 21st. TD Securities cut their price target on Parsley Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Bank of America lifted their price target on Parsley Energy from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $28.36.

PE stock opened at $16.38 on Monday. The company has a market capitalization of $4.94 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 0.33 and a beta of 0.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.50 and a current ratio of 0.50. Parsley Energy has a 52-week low of $13.72 and a 52-week high of $27.13. The business has a 50-day simple moving average of $17.17 and a two-hundred day simple moving average of $17.91.

Parsley Energy (NYSE:PE) last issued its earnings results on Tuesday, August 6th. The oil and natural gas company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $198.50 million during the quarter, compared to the consensus estimate of $467.53 million. Parsley Energy had a return on equity of 5.72% and a net margin of 13.69%. The firm’s revenue for the quarter was down 57.6% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS.

The company also recently announced a — dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 20th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, September 19th. Parsley Energy’s dividend payout ratio is currently 8.51%.

Several institutional investors have recently bought and sold shares of PE. River & Mercantile Asset Management LLP bought a new stake in shares of Parsley Energy in the 2nd quarter worth approximately $29,000. Quantamental Technologies LLC bought a new stake in shares of Parsley Energy in the 2nd quarter worth approximately $53,000. Nisa Investment Advisors LLC bought a new stake in shares of Parsley Energy in the 2nd quarter worth approximately $76,000. Machina Capital S.A.S. bought a new stake in shares of Parsley Energy in the 2nd quarter worth approximately $86,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Parsley Energy by 22.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock valued at $98,000 after acquiring an additional 958 shares during the period. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

About Parsley Energy

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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Earnings History and Estimates for Parsley Energy (NYSE:PE)

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