$466.52 Million in Sales Expected for Parsley Energy, Inc. (NYSE:PE) This Quarter


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Brokerages expect Parsley Energy, Inc. (NYSE:PE) to post sales of $466.52 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Parsley Energy’s earnings. The lowest sales estimate is $442.60 million and the highest is $483.60 million. Parsley Energy posted sales of $522.45 million in the same quarter last year, which suggests a negative year over year growth rate of 10.7%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 17th.

On average, analysts expect that Parsley Energy will report full year sales of $1.76 billion for the current fiscal year, with estimates ranging from $1.66 billion to $1.87 billion. For the next year, analysts anticipate that the company will report sales of $1.95 billion, with estimates ranging from $1.77 billion to $2.12 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Parsley Energy.

Parsley Energy (NYSE:PE) last announced its quarterly earnings data on Wednesday, October 28th. The oil and natural gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. Parsley Energy had a negative net margin of 200.23% and a positive return on equity of 5.13%. The business had revenue of $447.39 million for the quarter, compared to the consensus estimate of $440.61 million.

A number of brokerages have recently commented on PE. Johnson Rice downgraded Parsley Energy from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research report on Friday, October 30th. Stephens restated an “equal weight” rating and issued a $12.00 price target on shares of Parsley Energy in a report on Thursday, October 29th. Siebert Williams Shank reiterated a “buy” rating on shares of Parsley Energy in a report on Tuesday, October 27th. MKM Partners cut shares of Parsley Energy from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research report on Thursday, October 22nd. Finally, ValuEngine raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a research report on Monday, December 21st. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $14.63.

Several hedge funds have recently added to or reduced their stakes in PE. Boston Partners raised its position in Parsley Energy by 147.1% during the third quarter. Boston Partners now owns 25,157,523 shares of the oil and natural gas company’s stock valued at $235,474,000 after buying an additional 14,976,772 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Parsley Energy by 9.2% in the third quarter. Nuveen Asset Management LLC now owns 12,014,454 shares of the oil and natural gas company’s stock worth $112,455,000 after acquiring an additional 1,016,341 shares during the last quarter. JPMorgan Chase & Co. increased its position in Parsley Energy by 24.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,365,261 shares of the oil and natural gas company’s stock worth $60,725,000 after purchasing an additional 1,269,559 shares during the last quarter. Deep Basin Capital LP raised its stake in shares of Parsley Energy by 24.8% during the 3rd quarter. Deep Basin Capital LP now owns 4,162,371 shares of the oil and natural gas company’s stock worth $38,960,000 after purchasing an additional 825,906 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Parsley Energy by 7.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 2,887,843 shares of the oil and natural gas company’s stock valued at $27,030,000 after buying an additional 195,378 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.

PE traded up $0.52 during trading on Wednesday, hitting $16.93. The company’s stock had a trading volume of 35,685,638 shares, compared to its average volume of 12,273,780. Parsley Energy has a twelve month low of $3.92 and a twelve month high of $18.29. The stock has a market cap of $6.99 billion, a PE ratio of -1.72, a PEG ratio of 0.45 and a beta of 2.24. The firm’s 50 day moving average price is $14.37 and its 200-day moving average price is $11.57. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.54 and a quick ratio of 0.54.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 18th. Shareholders of record on Tuesday, December 8th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 7th. This represents a $0.20 annualized dividend and a yield of 1.18%. Parsley Energy’s payout ratio is presently 17.86%.

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, 2019, its acreage position consisted of 191,179 net acres, including 149,615 net acres in the Midland Basin and 41,564 net acres in the Delaware Basin; and operated 558.9 net acres of the horizontal wells and 723.1 net acres of the vertical wells, as well an estimated proved oil, natural gas, and natural gas liquid reserves of 592.3 MMBoe.

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

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