Capital One Financial Analysts Boost Earnings Estimates for Parsley Energy Inc (PE)
Parsley Energy Inc (NYSE:PE) – Investment analysts at Capital One Financial upped their FY2018 earnings estimates for Parsley Energy in a research note issued to investors on Wednesday. Capital One Financial analyst P. Johnston now forecasts that the oil and natural gas company will earn $1.32 per share for the year, up from their previous forecast of $0.88.
Parsley Energy (NYSE:PE) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Parsley Energy had a net margin of 3.22% and a return on equity of 1.87%. The firm had revenue of $241.02 million for the quarter, compared to the consensus estimate of $234.58 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 81.8% on a year-over-year basis.
Several other research firms also recently issued reports on PE. Barclays set a $32.00 price target on shares of Parsley Energy and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Parsley Energy from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Citigroup decreased their price objective on shares of Parsley Energy from $51.00 to $49.00 and set a “buy” rating for the company in a report on Friday, October 13th. JPMorgan Chase & Co. decreased their price objective on shares of Parsley Energy from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, November 15th. Finally, Northland Securities set a $36.00 price objective on shares of Parsley Energy and gave the stock a “buy” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $38.76.
Parsley Energy (NYSE PE) traded down $0.39 during trading on Monday, reaching $28.72. 5,517,115 shares of the company traded hands, compared to its average volume of 5,018,740. Parsley Energy has a 12-month low of $22.98 and a 12-month high of $37.72. The stock has a market cap of $9,030.00, a P/E ratio of 410.29, a price-to-earnings-growth ratio of 1.52 and a beta of -0.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Parsley Energy by 6.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 9,056 shares of the oil and natural gas company’s stock valued at $251,000 after buying an additional 565 shares during the period. Kennedy Capital Management Inc. boosted its holdings in shares of Parsley Energy by 0.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 96,169 shares of the oil and natural gas company’s stock valued at $2,669,000 after buying an additional 738 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Parsley Energy by 3.9% in the 2nd quarter. ProShare Advisors LLC now owns 20,637 shares of the oil and natural gas company’s stock valued at $573,000 after buying an additional 768 shares during the period. Advisor Group Inc. boosted its holdings in shares of Parsley Energy by 23.9% in the 2nd quarter. Advisor Group Inc. now owns 4,055 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 781 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Parsley Energy by 13.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,206 shares of the oil and natural gas company’s stock valued at $228,000 after buying an additional 945 shares during the period. 80.16% of the stock is owned by institutional investors and hedge funds.
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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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