Parsley Energy Inc (NYSE:PE) – Imperial Capital lowered their Q2 2018 EPS estimates for Parsley Energy in a research report issued on Wednesday, July 18th. Imperial Capital analyst I. Haas now anticipates that the oil and natural gas company will earn $0.33 per share for the quarter, down from their previous forecast of $0.36. Imperial Capital also issued estimates for Parsley Energy’s FY2019 earnings at $2.61 EPS.
Parsley Energy (NYSE:PE) last released its earnings results on Thursday, May 3rd. The oil and natural gas company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.07. Parsley Energy had a return on equity of 3.71% and a net margin of 13.82%. The firm had revenue of $392.70 million for the quarter, compared to the consensus estimate of $348.64 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 95.5% compared to the same quarter last year.
Several other research firms also recently weighed in on PE. ValuEngine upgraded Parsley Energy from a “sell” rating to a “hold” rating in a research report on Saturday, April 21st. BMO Capital Markets set a $40.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Friday, May 4th. Stifel Nicolaus set a $57.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Wednesday, March 28th. SunTrust Banks set a $34.00 target price on Parsley Energy and gave the stock a “buy” rating in a research report on Thursday, March 29th. Finally, Seaport Global Securities downgraded Parsley Energy from a “buy” rating to a “neutral” rating in a research report on Friday, May 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $38.16.
NYSE PE opened at $31.88 on Friday. Parsley Energy has a twelve month low of $21.12 and a twelve month high of $33.43. The stock has a market cap of $10.05 billion, a P/E ratio of 40.65, a price-to-earnings-growth ratio of 0.63 and a beta of -0.51. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.37.
Several hedge funds have recently bought and sold shares of PE. LS Investment Advisors LLC grew its stake in shares of Parsley Energy by 67.0% in the first quarter. LS Investment Advisors LLC now owns 4,085 shares of the oil and natural gas company’s stock valued at $118,000 after buying an additional 1,639 shares in the last quarter. MHI Funds LLC acquired a new stake in shares of Parsley Energy in the second quarter valued at about $163,000. Cerebellum GP LLC grew its stake in shares of Parsley Energy by 129.3% in the second quarter. Cerebellum GP LLC now owns 6,099 shares of the oil and natural gas company’s stock valued at $185,000 after buying an additional 3,439 shares in the last quarter. American International Group Inc. grew its stake in shares of Parsley Energy by 38.1% in the first quarter. American International Group Inc. now owns 7,253 shares of the oil and natural gas company’s stock valued at $210,000 after buying an additional 2,000 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Parsley Energy in the second quarter valued at about $212,000. Institutional investors and hedge funds own 85.22% of the company’s stock.
In other news, insider Mike Hinson sold 41,681 shares of the stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $31.95, for a total value of $1,331,707.95. Following the completion of the sale, the insider now owns 422,626 shares in the company, valued at $13,502,900.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Colin Roberts sold 10,000 shares of the stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $31.59, for a total value of $315,900.00. Following the completion of the sale, the insider now owns 244,204 shares of the company’s stock, valued at approximately $7,714,404.36. The disclosure for this sale can be found here. Insiders have sold 61,681 shares of company stock valued at $1,949,708 over the last 90 days. 13.17% of the stock is currently owned by insiders.
Parsley Energy Company Profile
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.
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