Research Analysts Set Expectations for Parsley Energy’s Q1 2018 Earnings (PE)

Parsley Energy (NYSE:PE) – Equities researchers at Capital One Financial lifted their Q1 2018 earnings per share estimates for shares of Parsley Energy in a research note issued to investors on Tuesday, April 3rd. Capital One Financial analyst P. Johnston now anticipates that the oil and natural gas company will post earnings per share of $0.22 for the quarter, up from their previous estimate of $0.19. Capital One Financial also issued estimates for Parsley Energy’s Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.19 EPS.

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Parsley Energy (NYSE:PE) last released its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The business had revenue of $311.49 million during the quarter, compared to analysts’ expectations of $298.04 million. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The business’s quarterly revenue was up 99.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS.

Other research analysts have also recently issued reports about the company. Bank of America lowered their price objective on Parsley Energy from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Credit Suisse Group lowered their price objective on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Stifel Nicolaus set a $49.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research report on Monday, January 29th. Piper Jaffray reissued a “buy” rating and issued a $41.00 target price on shares of Parsley Energy in a research report on Tuesday, January 9th. Finally, Northland Securities set a $36.00 target price on Parsley Energy and gave the company a “buy” rating in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.67.

NYSE:PE opened at $26.95 on Thursday. The stock has a market cap of $8,664.04, a PE ratio of 39.06, a price-to-earnings-growth ratio of 1.37 and a beta of -0.50. Parsley Energy has a 1 year low of $21.12 and a 1 year high of $32.90. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.37.

In related news, insider Bryan Sheffield acquired 189,500 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was bought at an average cost of $26.34 per share, with a total value of $4,991,430.00. Following the transaction, the insider now owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Colin Roberts sold 7,500 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $28.29, for a total value of $212,175.00. Following the sale, the insider now directly owns 254,204 shares of the company’s stock, valued at $7,191,431.16. The disclosure for this sale can be found here. 15.51% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. lifted its position in Parsley Energy by 417.5% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock worth $105,000 after acquiring an additional 2,864 shares during the period. Cerebellum GP LLC acquired a new stake in Parsley Energy during the 4th quarter worth approximately $128,000. American International Group Inc. acquired a new stake in Parsley Energy during the 4th quarter worth approximately $155,000. Trexquant Investment LP acquired a new stake in Parsley Energy during the 3rd quarter worth approximately $206,000. Finally, IFM Investors Pty Ltd acquired a new stake in Parsley Energy during the 3rd quarter worth approximately $209,000. 81.97% of the stock is owned by institutional investors.

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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.

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

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