US Capital Advisors Comments on Parsley Energy Inc’s Q1 2020 Earnings (NYSE:PE)

Parsley Energy Inc (NYSE:PE) – Analysts at US Capital Advisors decreased their Q1 2020 earnings estimates for shares of Parsley Energy in a research note issued on Tuesday, December 3rd. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.77. US Capital Advisors also issued estimates for Parsley Energy’s Q2 2020 earnings at $0.72 EPS, Q3 2020 earnings at $0.71 EPS, Q4 2020 earnings at $0.69 EPS, FY2020 earnings at $2.86 EPS, Q1 2021 earnings at $0.72 EPS, Q2 2021 earnings at $0.71 EPS, Q3 2021 earnings at $0.71 EPS and FY2021 earnings at $2.86 EPS.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Tuesday, November 5th. The oil and natural gas company reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.05). Parsley Energy had a net margin of 14.03% and a return on equity of 4.96%. The company had revenue of $510.15 million during the quarter, compared to analysts’ expectations of $503.05 million. During the same quarter last year, the firm posted $0.41 earnings per share. Parsley Energy’s revenue for the quarter was down .2% compared to the same quarter last year.

A number of other research firms have also weighed in on PE. Wells Fargo & Co lifted their target price on Parsley Energy from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Northland Securities reissued a “buy” rating and issued a $23.00 price target on shares of Parsley Energy in a report on Wednesday, November 6th. Mizuho raised shares of Parsley Energy from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, September 16th. Morgan Stanley cut their price objective on shares of Parsley Energy from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. Finally, SunTrust Banks set a $23.00 price objective on shares of Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $27.03.

Shares of PE opened at $16.27 on Friday. Parsley Energy has a 52-week low of $13.72 and a 52-week high of $22.11. The stock’s 50-day simple moving average is $16.03 and its 200 day simple moving average is $17.02. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.35 and a beta of 0.55.

Large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its holdings in shares of Parsley Energy by 3.6% in the 3rd quarter. D.A. Davidson & CO. now owns 21,014 shares of the oil and natural gas company’s stock worth $353,000 after purchasing an additional 725 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Parsley Energy by 22.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,148 shares of the oil and natural gas company’s stock worth $98,000 after buying an additional 958 shares in the last quarter. Moody National Bank Trust Division boosted its stake in Parsley Energy by 1.2% in the third quarter. Moody National Bank Trust Division now owns 80,847 shares of the oil and natural gas company’s stock worth $1,358,000 after buying an additional 962 shares in the last quarter. Sumitomo Life Insurance Co. grew its position in Parsley Energy by 2.3% during the second quarter. Sumitomo Life Insurance Co. now owns 43,399 shares of the oil and natural gas company’s stock valued at $825,000 after acquiring an additional 994 shares during the last quarter. Finally, Sippican Capital Advisors grew its position in Parsley Energy by 2.2% during the third quarter. Sippican Capital Advisors now owns 51,344 shares of the oil and natural gas company’s stock valued at $863,000 after acquiring an additional 1,125 shares during the last quarter. Institutional investors own 79.24% of the company’s stock.

In related news, Director Ron Brokmeyer bought 5,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average cost of $14.95 per share, with a total value of $74,750.00. Following the completion of the purchase, the director now directly owns 13,897 shares of the company’s stock, valued at approximately $207,760.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.14% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Tuesday, December 10th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Monday, December 9th. Parsley Energy’s dividend payout ratio (DPR) is 8.51%.

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

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