Equities research analysts forecast that Parsley Energy Inc (NYSE:PE) will announce $492.17 million in sales for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Parsley Energy’s earnings, with the highest sales estimate coming in at $558.00 million and the lowest estimate coming in at $450.00 million. Parsley Energy posted sales of $311.49 million in the same quarter last year, which suggests a positive year-over-year growth rate of 58%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, February 21st.

According to Zacks, analysts expect that Parsley Energy will report full year sales of $1.85 billion for the current financial year, with estimates ranging from $1.78 billion to $1.93 billion. For the next financial year, analysts expect that the firm will report sales of $2.00 billion, with estimates ranging from $1.72 billion to $2.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Parsley Energy.

Parsley Energy (NYSE:PE) last announced its quarterly earnings results on Thursday, November 1st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $493.44 million. Parsley Energy had a return on equity of 6.77% and a net margin of 21.70%. The company’s quarterly revenue was up 112.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 earnings per share.

PE has been the topic of a number of research analyst reports. Wolfe Research downgraded Parsley Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 17th. Morgan Stanley reaffirmed a “hold” rating and set a $26.00 price target on shares of Parsley Energy in a report on Friday, December 21st. Piper Jaffray Companies set a $46.00 price objective on Parsley Energy and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Goldman Sachs Group upgraded Parsley Energy from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, November 27th. Finally, Citigroup upgraded Parsley Energy from a “neutral” rating to a “buy” rating in a research report on Friday, December 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Parsley Energy has a consensus rating of “Buy” and a consensus price target of $33.52.

In related news, Director A R. Alameddine purchased 5,000 shares of Parsley Energy stock in a transaction on Tuesday, November 27th. The stock was acquired at an average price of $21.10 per share, for a total transaction of $105,500.00. Following the completion of the transaction, the director now directly owns 122,643 shares in the company, valued at approximately $2,587,767.30. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders acquired 7,000 shares of company stock valued at $145,490. Company insiders own 13.17% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. IFM Investors Pty Ltd increased its position in Parsley Energy by 10.7% in the fourth quarter. IFM Investors Pty Ltd now owns 15,454 shares of the oil and natural gas company’s stock worth $247,000 after buying an additional 1,500 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Parsley Energy by 15.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,006 shares of the oil and natural gas company’s stock worth $468,000 after purchasing an additional 2,198 shares in the last quarter. DNB Asset Management AS grew its position in shares of Parsley Energy by 8.6% during the third quarter. DNB Asset Management AS now owns 27,791 shares of the oil and natural gas company’s stock worth $813,000 after purchasing an additional 2,200 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Parsley Energy during the fourth quarter worth about $37,000. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Parsley Energy by 0.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 339,048 shares of the oil and natural gas company’s stock worth $9,917,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.

Shares of NYSE:PE opened at $18.46 on Friday. The firm has a market cap of $5.75 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 0.46 and a beta of 0.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.70 and a current ratio of 0.70. Parsley Energy has a 1 year low of $14.17 and a 1 year high of $33.43.

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.

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

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