Wall Street analysts expect Parsley Energy Inc (NYSE:PE) to post $334.34 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Parsley Energy’s earnings. The highest sales estimate is $354.37 million and the lowest is $315.00 million. Parsley Energy posted sales of $200.86 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 66.5%. The business is expected to report its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Parsley Energy will report full year sales of $334.34 million for the current financial year, with estimates ranging from $1.43 billion to $1.90 billion. For the next year, analysts anticipate that the company will post sales of $2.22 billion per share, with estimates ranging from $1.96 billion to $2.53 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Parsley Energy.
Parsley Energy (NYSE:PE) last issued its quarterly earnings data on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm 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 firm’s quarterly revenue was up 99.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS.
A number of equities research analysts recently weighed in on PE shares. Deutsche Bank decreased their price objective on Parsley Energy from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. ValuEngine cut Parsley Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Northland Securities set a $36.00 price objective on Parsley Energy and gave the stock a “buy” rating in a research note on Monday, December 11th. Morgan Stanley upped their price objective on Parsley Energy from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Imperial Capital upped their price objective on Parsley Energy from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $36.17.
Shares of PE stock traded up $0.54 during midday trading on Thursday, hitting $26.70. The company had a trading volume of 3,048,072 shares, compared to its average volume of 5,992,503. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.37. The stock has a market cap of $8,416.95, a PE ratio of 65.12, a P/E/G ratio of 1.28 and a beta of -0.39. Parsley Energy has a 1 year low of $21.12 and a 1 year high of $33.07.
In other news, Director Ron Brokmeyer acquired 2,000 shares of Parsley Energy stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $25.66 per share, for a total transaction of $51,320.00. Following the completion of the purchase, the director now directly owns 112,128 shares in the company, valued at approximately $2,877,204.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bryan Sheffield acquired 189,500 shares of Parsley Energy stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $26.34 per share, with a total value of $4,991,430.00. Following the completion of the purchase, the insider now owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The disclosure for this purchase can be found here. Company insiders own 15.51% of the company’s stock.
Several large investors have recently made changes to their positions in PE. The Manufacturers Life Insurance Company raised its stake in shares of Parsley Energy by 13.0% in the second quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock worth $228,000 after purchasing an additional 945 shares during the last quarter. Swiss National Bank grew its holdings in Parsley Energy by 0.8% during the third quarter. Swiss National Bank now owns 815,600 shares of the oil and natural gas company’s stock worth $21,483,000 after acquiring an additional 6,600 shares during the period. Bessemer Group Inc. grew its holdings in Parsley Energy by 36.5% during the third quarter. Bessemer Group Inc. now owns 60,585 shares of the oil and natural gas company’s stock worth $1,596,000 after acquiring an additional 16,185 shares during the period. Sei Investments Co. grew its holdings in Parsley Energy by 3.6% during the third quarter. Sei Investments Co. now owns 130,852 shares of the oil and natural gas company’s stock worth $3,447,000 after acquiring an additional 4,600 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in Parsley Energy during the third quarter worth about $219,000. Hedge funds and other institutional investors own 81.97% of the company’s stock.
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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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